Abstract
Amid intensifying climate crises and regulatory pressures, green innovation has shifted from an optional initiative to a core strategic imperative for business survival. While crucial for global sustainability, research on green innovation in family SMEs remains limited. This study aims to measure the degree of green innovation adoption among these firms. Moreover, it embraces family firm heterogeneity by examining how family management and generational stage shape green innovation. Using primary survey data integrated with secondary financial data from the SABI database, we analyze a stratified random sample of 183 family SMEs. Grounded in socioemotional wealth theory, our empirical findings reveal that family management acts as a significant catalyst for green innovation, driven by long-term investment horizons, reputational preservation, and a desire for sustainable visibility. Conversely, generational stage has no significant direct effect, which may reflect neutralizing counterforces inherent in both founder and non-founder dynamics. This study advances the literature by moving beyond the traditional family versus non-family dichotomy to uncover nuanced internal governance drivers of green innovation.References
Abdul Basit, S., Gharleghi, B., Batool, K., Hassan, S. S., Jahanshahi, A. A., & Kliem, M. E. (2024). Review of enablers and barriers of sustainable business practices in SMEs. Journal of Economy and Technology, 2, 79–94. https://doi.org/10.1016/j.ject.2024.03.005
Aftab, J., Abid, N., Sarwar, H., Amin, A., Abedini, M., & Veneziani, M. (2024). Does corporate social responsibility drive financial performance? Exploring the significance of green innovation, green dynamic capabilities, and perceived environmental volatility. Corporate Social Responsibility and Environmental Management, 31(3), 1634–1653. https://doi.org/10.1002/csr.2654
Aiello, F., Cardamone, P., Mannarino, L., & Pupo, V. (2021). Does external R&D matter for family firm innovation? Evidence from the Italian manufacturing industry. Small Business Economics, 57(4), 1915–1930.
Aiello, F., Pupo, V., & Mannarino, L. (2024). Green Innovation and Firm Heterogeneity. Beyond dichotomies between family and non-family firms. Available at SSRN: https://ssrn.com/abstract=4869397
Alayo, M., Iturralde, T., & Maseda, A. (2022). Innovation and internationalization in family SMEs: Analyzing the role of family involvement. European Journal of Innovation Management, 25(2), 454–478. https://doi.org/10.1108/EJIM-07-2020-0302
Alayo, M., Maseda, A., Iturralde, T., & Calabrò, A. (2023). We are family! The role of family members' identification in the internationalization of family firms. European Management Journal, 41(5), 792–801. https://doi.org/10.1016/j.emj.2022.05.006
Alessandri, T. M., Cerrato, D., & Eddleston, K. A. (2018). The mixed gamble of internationalization in family and nonfamily firms: The moderating role of organizational slack. Global Strategy Journal, 8(1), 46–72. https://doi.org/10.1002/gsj.1201
Aparicio, G., & Iturralde, T. (2023). New Research Trends in Sustainability in Family Businesses: A Bibliometric Literature Review. European Journal of Family Business, 13(1), 36–55. https://doi.org/10.24310/ejfbejfb.v13i1.16744
Arena, C., & Michelon, G. (2018). A matter of control or identity? Family firms' environmental reporting decisions along the corporate life cycle. Business Strategy and the Environment, 27(8), 1596–1608. https://doi.org/10.1002/bse.2225
Arzubiaga, U., Maseda, A., & Iturralde, T. (2019). Entrepreneurial orientation in family firms: New drivers and the moderating role of the strategic involvement of the board. Australian Journal of Management, 44(1), 128–152.
Bammens, Y., Voorderckers, W., & Van Gils, A. (2008). Boards of directors in family firms: A generational perspective. Small Business Economics, 31(2), 163–180. https://doi.org/10.1007/s11187-007-9087-5
Bauweraerts, J., Arzubiaga, U., & Díaz-Moriana, V. (2022). Going greener, performing better? The case of private family firms. Research in International Business and Finance, 63, 101784. https://doi.org/10.1016/j.ribaf.2022.101784
Bauweraerts, J., Díaz-Moriana, V., & Arzubiaga, U. (2020). A mixed gamble approach of the impact of family management on firm's growth: a longitudinal analysis. European Management Review, 17(3), 747–764.
Bendell, J. (2022). Replacing Sustainable Development: Potential Frameworks for International Cooperation in an Era of Increasing Crises and Disasters. Sustainability (Switzerland), 14(13), 8185. https://doi.org/10.3390/su14138185
Berrone, P., Cruz, C., & Gómez-Mejía, L. R. (2012). Socioemotional Wealth in Family Firms: Theoretical Dimensions, Assessment Approaches, and Agenda for Future Research. Family Business Review, 25(3), 258–279. https://doi.org/10.1177/0894486511435355
Berrone, P., Cruz, C., Gómez-Mejía, L. R., & Larraza-Kintana, M. (2010). Socioemotional Wealth and Corporate Responses to Institutional Pressures: Do Family-Controlled Firms Pollute Less? Administrative Science Quarterly, 55(1), 82–113. https://doi.org/10.2189/asqu.2010.55.1.82
Berrone, P., Fosfuri, A., Gelabert, L., & Gómez-Mejía, L. R. (2013). Necessity as the mother of 'green' inventions: Institutional pressures and environmental innovations. Strategic Management Journal, 34(8), 891–909. https://doi.org/10.1002/smj.2041
Block, J., Hansen, C., & Steinmetz, H. (2022). Are family firms doing more innovation output with less innovation input? A replication and extension. Entrepreneurship Theory and Practice, 47(4), 1496–1520. https://doi.org/10.1177/10422587221084249
Bolan, S., Padhye, L. P., Jasemizad, T., Govarthanan, M., Karmegam, N., Wijesekara, H., Amarasiri, D., Hou, D., Zhou, P., Biswal, B. K., Balasubramanian, R., Wang, H., Siddique, K. H. M., Rinklebe, J., Kirkham, M. B., & Bolan, N. (2024). Impacts of climate change on the fate of contaminants through extreme weather events. Science of the Total Environment, 909, 168388. https://doi.org/10.1016/j.scitotenv.2023.168388
Brunelli, S., Sciascia, S., & Baù, M. (2024). Nonfinancial reporting in family firms: A systematic review and agenda for future research. Business Strategy and the Environment, 33(2), 162–179.
Cabrera-Suárez, M. K., Déniz-Déniz, M. D. L. C., & Martín-Santana, J. D. (2014). The setting of non-financial goals in the family firm: The influence of family climate and identification. Journal of Family Business Strategy, 5(3), 289–299.
Cambrea, D., Ponomareva, Y., Pittino, D., & Minichilli, A. (2021). Strings attached: Socioemotional wealth mixed gambles in the cash management choices of family firms. Journal of Family Business Strategy, 13(3), 100466. https://doi.org/10.1016/j.jfbs.2021.100466
Chen, Y. S., Lai, S. B., & Wen, C. T. (2006). The influence of green innovation performance on corporate advantage in Taiwan. Journal of Business Ethics, 67(4), 331–339. https://doi.org/10.1007/s10551-006-9025-5
Chirico, F., & Kellermanns, F. W. (2024). When does time enhance family firm performance? Examining family generation in control and family control dispersion through a mixed-gamble logic. Long Range Planning, 57(1), 102272. https://doi.org/10.1016/j.lrp.2022.102272
Chirico, F., & Salvato, C. (2016). Knowledge internalization and product development in family firms: When relational and affective factors matter. Entrepreneurship Theory and Practice, 40(1), 201–229.
Chua, J., Chrisman, J., Steier, L., & Rau, S. (2012). Sources of Heterogeneity in Family Firms: An Introduction. Entrepreneurship Theory and Practice, 36(6), 1103–1113. https://doi.org/10.1111/j.1540-6520.2012.00540.x
Cruz, C., & Nordqvist, M. (2011). Entrepreneurial orientation in family firms: A generational perspective. Small Business Economics, 38, 33–49. https://doi.org/10.1007/s11187-010-9265-8
Cruz, C., Gómez-Mejía, L. R., & Becerra, M. (2010). Perceptions of benevolence and the design of agency contracts: CEO-TMT relationships in family firms. Academy of Management Journal, 53(1), 69–89.
Dangelico, R. M., & Pujari, D. (2010). Mainstreaming green product innovation: Why and how companies integrate environmental sustainability. Journal of Business Ethics, 95(3), 471–486. https://doi.org/10.1007/s10551-010-0434-0
Dangelico, R. M., Nastasi, A., & Pisa, S. (2019). A comparison of family and nonfamily small firms in their approach to green innovation: A study of Italian companies in the agri-food industry. Business Strategy and the Environment, 28(7), 1434–1448. https://doi.org/10.1002/bse.2324
Daspit, J. J., Chrisman, J. J., Ashton, T., & Evangelopoulos, N. (2021). Family Firm Heterogeneity: A Definition, Common Themes, Scholarly Progress, and Directions Forward. Family Business Review, 34(3), 296–322. https://doi.org/10.1177/08944865211008350
Daspit, J. J., Chrisman, J. J., Skorodziyevskiy, V., Davis, S., & Ashton, T. (2023). Researching family-firm heterogeneity: A guide to identifying firm-level categorical and variational differences. In K. H. Brigham & G. T. Payne (Eds.), Field guide to family business research (pp. 46–60). Edward Elgar.
De Massis, A., Kotlar, J., Chua, J. H., & Chrisman, J. J. (2014). Ability and willingness as sufficiency conditions for family-oriented particularistic behavior: Implications for theory and empirical studies. Journal of Small Business Management, 52(2), 344–364. https://doi.org/10.1111/jsbm.12102
Debicki, B. J., Van de Graaff Randolph, R., & Sobczak, M. (2017). Socioemotional wealth and family firm performance: A stakeholder approach. Journal of Managerial Issues, 29(1), 82–111.
Dekker, J., & Hasso, T. (2016). Environmental performance focus in private family firms: The role of social embeddedness. Journal of Business Ethics, 136(2), 293–309.
Díaz-Moriana, V., Lumpkin, G., Clinton, E., Kammerlander, N., & Craig, J. (2018). Innovation Motives In Family Firms: A Transgenerational View. Entrepreneurship Theory and Practice, 44(2), 256–287. https://doi.org/10.1177/1042258718803051
Dirección General de Industria y de la PYME. (2024). Cifras PYME. Datos diciembre 2024. https://ipyme.org/Publicaciones/CifrasPYME/CifrasPyme-diciembre2024.pdf
Doluca, H., Wagner, M., & Block, J. (2018). Sustainability and environmental behaviour in family firms: A longitudinal analysis of environment-related activities, innovation and performance. Business Strategy and the Environment, 27(1), 152–172.
Du, S., & Cao, J. (2023). Non-family shareholder governance and green innovation of family firms: A socio-emotional wealth theory perspective. International Review of Financial Analysis, 90, 102857. https://doi.org/10.1016/j.irfa.2023.102857
Duong, P.-A., Voordeckers, W., Vandekerkhof, P., Lambrechts, F., & Kelleci, R. (2025). A configurational approach to strategic change in family firms. Journal of Small Business Management, 1–41. https://doi.org/10.1080/00472778.2024.2443654
Duran, P., Kammerlander, N., Van Essen, M., & Zellweger, T. (2016). Doing more with less: Innovation input and output in family firms. Academy of Management Journal, 59(4), 1224–1264. https://doi.org/10.5465/amj.2014.0424
Family Firm Institute. (2018). Global data points. https://my.ffi.org/page/globaldatapoints
Feranita, F., Kotlar, J., & De Massis, A. (2017). Collaborative innovation in family firms: Past research, current debates and agenda for future research. Journal of Family Business Strategy, 8(3), 137–156.
Fiorillo, P., Mustilli, M., Ossorio, M., Salerno, D., & Sampagnaro, G. (2025). Family firms and ESG performance: the role of generational stage. Corporate Governance: The International Journal of Business in Society, 1–22. https://doi.org/10.1108/CG-12-2024-0653
Gallucci, C., Santulli, R., & Calabrò, A. (2015). Does family involvement foster or hinder firm performance? The missing role of family-based branding strategies. Journal of Family Business Strategy, 6(3), 155–165.
Garcés-Ayerbe, C., Rivera-Torres, P., Murillo-Luna, J. L., & Suárez-Gálvez, C. (2022). Does it pay more to be green in family firms than in non-family firms? Review of Managerial Science, 16(5), 1365–1386. https://doi.org/10.1007/s11846-021-00475-8
Gómez-Mejía, L., Mendoza, A., Cruz, C., Duran, P., & Aguinis, H. (2022). Socioemotional Wealth in Volatile, Uncertain, Complex, and Ambiguous Contexts: The Case of Family Firms in Latin America and the Caribbean. Journal of Family Business Strategy, 15(1), 100551. https://doi.org/10.1016/j.jfbs.2022.100551
Gómez-Mejía, L. R., Cruz, C., Berrone, P., & De Castro, J. (2011). The Bind that Ties: Socioemotional Wealth Preservation in Family Firms. Academy of Management Annals, 5(1), 653–707. https://doi.org/10.5465/19416520.2011.593320
Gómez-Mejía, L. R., Haynes, K. T., & Moyano-Fuentes, J. (2007). Socioemotional Wealth and Business Risks in Family-Controlled Firms: Evidence from Spanish Olive Oil Mills. Administrative Science Quarterly, 52(1), 106–137.
Gómez-Mejía, L. R., Muñoz-Bullón, F., Requejo, I., & Sánchez-Bueno, M. J. (2025). Ethical Correlates of Family Control: Socioemotional Wealth, Environmental Performance, and Financial Returns. Journal of Business Ethics, 198(4), 893–917. https://doi.org/10.1007/s10551-025-05943-9
Gu, S. (2023). Green innovation; a way to enhance economic performance of Chinese hotels. International Journal of Innovation Science, 15(3), 406–426. https://doi.org/10.1108/IJIS-07-2021-0128
Gutuleac, R., Giachino, C., Vilamová, Š., & Ferraris, A. (2025). Demystifying sustainable innovation and governance in family firms: A critical review. Technological Forecasting and Social Change, 212. https://doi.org/10.1016/j.techfore.2025.124000
Hair, J. F., Anderson, R. E., Tatham, R. L., & Black, W. C. (1999). Análisis Multivariante. Madrid: Prentice Hall.
Han, J., Lee, J., & Kim, S. J. (2021). How does family involvement affect environmental innovation? A socioemotional wealth perspective. Sustainability (Switzerland), 13(23), 13114. https://doi.org/10.3390/su132313114
Häußler, S., & Ulrich, P. (2024). Exploring strategic corporate sustainability management in family businesses: a systematic literature review. Review of Managerial Science, 1-16.
Herrero, I., López, C., & Ruiz-Benítez, R. (2024). So … are family firms more sustainable? On the economic, social and environmental sustainability of family SMEs. Business Strategy and the Environment, 33(5), 4252–4270. https://doi.org/10.1002/bse.3699
Horváthová, E. (2010). Does Environmental Performance Affect Financial Performance? A Meta-Analysis. Ecological Economics, 70, 52–59. https://doi.org/10.1016/j.ecolecon.2010.04.004
Huang, J., Zhou, L., Song, S., & Zhou, H. (2025). The impact of de-familization on green innovation: Evidence from SRDI family firms in China. PLOS ONE, 20. https://doi.org/10.1371/journal.pone.0314110
Huang, Y. C., & Huang, C. H. (2024). Exploring institutional pressure, the top management team’s response, green innovation adoption, and firm performance: evidence from Taiwan’s electrical and electronics industry. European Journal of Innovation Management, 27(3), 800–824. https://doi.org/10.1108/EJIM-03-2022-0126
Hughes, A. (2001). Innovation and business performance: Small entrepreneurial firms in the UK and the EU. New Economy, 8(3), 157–163.
IEF & Red de Cátedras de Empresa Familiar. (2018). Factores de Competitividad y Análisis Financiero en la Empresa Familiar. Instituto de la Empresa Familiar.
Ilvitskaya, S., & Prihodko, V. (2018). Innovative technologies in the field of topography, land management, territorial planning, construction and architecture. IOP Conference Series: Materials Science and Engineering, 365, 022030. https://doi.org/10.1088/1757-899X/365/2/022030
Kavadis, N., & Thomsen, S. (2023). Sustainable corporate governance: A review of research on long-term corporate ownership and sustainability. Corporate Governance: An International Review, 31(1), 198–226. https://doi.org/10.1111/corg.12486
Kim, J., Fairclough, S., & Dibrell, C. (2017). Attention, Action, and Greenwash in Family-Influenced Firms? Evidence From Polluting Industries. Organization & Environment, 30(4), 304–323. https://doi.org/10.1177/1086026616673410
Kraiczy, N. D., Hack, A., & Kellermanns, F. W. (2014). New product portfolio performance in family firms. Journal of Business Research, 67(6), 1065–1073.
Laari, S., Töyli, J., & Ojala, L. (2018). The effect of a competitive strategy and green supply chain management on the financial and environmental performance of logistics service providers. Business Strategy and the Environment, 27(7), 872–883. https://doi.org/10.1002/bse.2038
Lansberg, I., Gersick, K. E., Davis, J. A., & McCollom, M. (1997). Generation to generation. Harvard Business Review, 11(3), 51–64.
Le Breton-Miller, I., & Miller, D. (2013). Socioemotional wealth across the family firm life cycle: A commentary on “family business survival and the role of boards”. Entrepreneurship Theory and Practice, 37(6), 1391–1397.
Liu, B., Qian, G., & Au, K. Y. (2023). Family influence and environmental proactiveness of family firms in China: A mixed gamble perspective. Management and Organization Review, 19(2), 348–371. https://doi.org/10.1017/mor.2022.21
Liu, S., & Wu, D. (2016). Competing by conducting good deeds: The peer effect of corporate social responsibility. Finance Research Letters, 16, 47–54.
Ma, Y., Zhang, Q., & Yin, Q. (2021). Top management team faultlines, green technology innovation and firm financial performance. Journal of Environmental Management, 285, 112095.
Madrid-Guijarro, A., Martin, D. P., & García-Pérez-de-Lema, D. (2021). Capacity of open innovation activities in fostering product and process innovation in manufacturing SMEs. Review of Managerial Science, 15(7), 2137–2164. https://doi.org/10.1007/s11846-020-00419-8
Martín-Castejón, P. J., & Aroca-López, B. (2016). Corporate social responsibility in family SMEs: A comparative study. European Journal of Family Business, 6(1), 21–31. https://doi.org/10.1016/j.ejfb.2016.05.002
Martínez-Alonso, R., Martínez-Romero, M. J., & Rojo-Ramírez, A. A. (2020). The impact of technological innovation efficiency on firm growth: The moderating role of family involvement in management. European Journal of Innovation Management, 23(1), 134–155. https://doi.org/10.1108/EJIM-09-2018-0210
Martínez-Alonso, R., Martínez-Romero, M. J., & Rojo-Ramírez, A. A. (2022). Refining the influence of family involvement in management on firm performance: The mediating role of technological innovation efficiency. BRQ Business Research Quarterly, 25(4), 337–351. https://doi.org/10.1177/2340944420957330
Martínez-Alonso, R., Martínez-Romero, M. J., & Rojo-Ramírez, A. A. (2023). R&D collaboration breadth and family-firm innovation efficiency: The role of family management and generational stage. Technological and Economic Development of Economy, 29(2), 677–695.
Martínez-Alonso, R., Martínez-Romero, M. J., & Rojo-Ramírez, A. A. (2024). Unveiling new opportunities: A mixed gamble approach to external search breadth within family firms. Technovation, 129, 102896. https://doi.org/10.1016/j.technovation.2023.102896
Martínez-Alonso, R., Martínez-Romero, M. J., & Rojo-Ramírez, A. A. (2025). Greening the Path to Family Firm Innovation: Empirical Evidence From the Spanish Manufacturing Industry. Business Strategy and the Environment, 34(4), 4661–4678. https://doi.org/10.1002/bse.4223
Martínez-Alonso, R., Martínez-Romero, M. J., Rojo-Ramírez, A. A., Lazzarotti, V., & Sciascia, S. (2023). Process innovation in family firms: Family involvement in management, R&D collaboration with suppliers, and technology protection. Journal of Business Research, 157, 113581. https://doi.org/10.1016/j.jbusres.2022.113581
Martínez-Romero, M. J., & Rojo-Ramírez, A. A. (2016). SEW: Looking for a definition and controversial issues. European Journal of Family Business, 6(1), 1–9. https://doi.org/10.1016/j.ejfb.2015.09.001
Martínez-Romero, M. J., & Rojo-Ramírez, A. A. (2017). Socioemotional wealth's implications in the calculus of the minimum rate of return required by family businesses' owners. Review of Managerial Science, 11(1), 95–118.
Martínez-Romero, M. J., Diéguez-Soto, J., & Vandekerkhof, P. (2023). Enlightening the influence of family TMT involvement on firm growth and degrowth rates. Eurasian Business Review, 13, 581–610.
Martínez-Romero, M. J., Martínez-Alonso, R., & Casado-Belmonte, P. (2020). The influence of socioemotional wealth on firm financial performance: Evidence from small and medium privately held family businesses. International Journal of Entrepreneurship and Small Business, 40, 7–31. https://doi.org/10.1504/IJESB.2020.10028707
Martínez-Romero, M. J., Martínez-Alonso, R., Martínez-Victoria, M. C., & Peña-Rodríguez, S. (2025). Becoming Green: Environmentally Sustainable Practices as Drivers of Family SMEs Performance. In C. Blanco, S. Giralt, A. Ramirez, & D. E. Ribeiro-Soriano (Eds.), Efficiency and Optimization in Business Practice (1st ed., pp. 135–151). Springer. https://doi.org/10.1007/978-3-031-97641-4
Martínez-Romero, M. J., Rojo-Ramírez, A. A., & Casado-Belmonte, M. P. (2020). Value creation in privately held family businesses: The moderating role of socioemotional wealth. Canadian Journal of Administrative Sciences, 37(3), 283–299. https://doi.org/10.1002/cjas.1540
Miller, D., & Le Breton-Miller, I. (2014). Deconstructing socioemotional wealth. Entrepreneurship: Theory and Practice, 38(4), 713–720. https://doi.org/10.1111/etap.12111
Ministerio de Industria, Comercio y Turismo. (2024). Marco estratégico en política de PYME 2030. https://industria.gob.es/es-es/servicios/paginas/marco-estrategico-politica-pyme.aspx
Miroshnychenko, I., & De Massis, A. (2022). Sustainability practices of family and nonfamily firms: A worldwide study. Technological Forecasting and Social Change, 174, 121079. https://doi.org/10.1016/j.techfore.2021.121079
Miroshnychenko, I., Miller, D., De Massis, A., & Le Breton-Miller, I. (2025). Are family firms green? Small Business Economics, 64(2), 279–306.
Nguyen, L. H., Kanbach, D. K., & Kraus, S. (2025). Facilitating corporate sustainability integration: innovation in family firms. Journal of Family Business Management, 15(1), 122–139. https://doi.org/10.1108/JFBM-01-2024-0022
Oke, A., Turla, M., Osobajo, O., & Koutsoukos, S. (2025). Resolving the paradox of green innovation across generations in family firms: An exploratory analysis of incumbents and successors perceptions. Journal of Family Business Management, 15(6), 1556–1576. https://doi.org/10.1108/JFBM-03-2025-0068
Özbay, F. (2025). Green innovation for a sustainable environment: Modeling the new green knowledge production function for OECD countries. Natural Resources Forum, 49(1), 884–910. https://doi.org/10.1111/1477-8947.12552
Peláez-León, J. D., & Sánchez-Marín, G. (2023). High-performance work systems in family firms: A mixed gamble approach. Journal of Business Research, 156, 113532. https://doi.org/10.1016/j.jbusres.2022.113532
Podsakoff, P. M., MacKenzie, S. B., & Podsakoff, N. P. (2012). Sources of method bias in social science research and recommendations on how to control it. Annual Review of Psychology, 63, 539–569. https://doi.org/10.1146/annurev-psych-120710-100452
Rivera-Torres, P., Garcés-Ayerbe, C., Scarpellini, S., & Valero-Gil, J. (2015). Pro-environmental change and short- to mid-term economic performance: The mediating effect of organisational design change. Organization & Environment, 28(3), 307–327. https://doi.org/10.1177/1086026615603867
Rovelli, P., Ferasso, M., De Massis, A., & Kraus, S. (2022). Thirty years of research in family business journals: Status quo and future directions. Journal of Family Business Strategy, 13(3), 100422. https://doi.org/10.1016/j.jfbs.2021.100422
Samara, G., Jamali, D., Sierra, V., & Parada, M. J. (2018). Who are the best performers? The environmental social performance of family firms. Journal of Family Business Strategy, 9(1), 33–43. https://doi.org/10.1016/j.jfbs.2017.11.004
Sánchez-Famoso, V., Maseda, A., & Iturralde, T. (2017). Family involvement in top management team: Impact on relationships between internal social capital and innovation. Journal of Management & Organization, 23(1), 136–162.
Sánchez-Famoso, V., Pittino, D., Chirico, F., Maseda, A., & Iturralde, T. (2019). Social capital and innovation in family firms: The moderating roles of family control and generational involvement. Scandinavian Journal of Management, 35(3), 101043.
Sánchez-Marín, G., Pemartín, M., & Monreal-Pérez, J. (2020). The influence of family involvement and generational stage on learning-by-exporting among family firms. Review of Managerial Science, 14(1), 311–334.
Santulli, R., Gallucci, C., Torchia, M., & Calabrò, A. (2022). Family managers’ propensity towards mergers and acquisitions: The role of performance feedback. Journal of Small Business and Enterprise Development, 29(2), 293–310. https://doi.org/10.1108/jsbed-01-2019-0033
Sciascia, S., Mazzola, P., & Kellermanns, F. W. (2014). Family management and profitability in private family-owned firms: Introducing generational stage and the socioemotional wealth perspective. Journal of Family Business Strategy, 5(2), 131–137. https://doi.org/10.1016/j.jfbs.2014.03.001
Skorodziyevskiy, V., Sherlock, C., Su, E., Chrisman, J. J., & Dibrell, C. (2024). Strategic Change in Family Firms: A Review From an Institutional Environment and Firm Size Perspective. Family Business Review, 37(1), 130–160. https://doi.org/10.1177/08944865231221841
Sonfield, M., & Lussier, R. (2004). First-, Second-, and Third-Generation Family Firms: A Comparison. Family Business Review, 17, 189–202. https://doi.org/10.1111/j.1741-6248.2004.00013.x
Song, W., & Yu, H. (2018). Green Innovation Strategy and Green Innovation: The Roles of Green Creativity and Green Organizational Identity. Corporate Social Responsibility and Environmental Management, 25(2), 135–150. https://doi.org/10.1002/csr.1445
Stefanitsis, M., Fafaliou, I., & Hassid, J. (2013). Does financial knowledge in small- and medium-sized enterprises matter? An empirical survey for Greece. International Journal of Economics and Business Research, 5(1), 96–113.
Sudirman, A., Chusnu, R., Diah Kusuma, S., Halim, F., & Sembiring, L. D. (2024). Analysis of the Mediation Effect of Green Competitive Advantage: Reviewing the Influence of Green Innovation on SMEs' Business Performance. International Journal of Business, Law, and Education, 5(2).
Tang, M., Walsh, G., Lerner, D., Fitza, M. A., & Li, Q. (2018). Green Innovation, Managerial Concern and Firm Performance: An Empirical Study. Business Strategy and the Environment, 27(1), 39–51. https://doi.org/10.1002/bse.1981
Toromade, A. S., & Chiekezie, N. R. (2024). Driving sustainable business practices in SMEs: Innovative approaches for environmental and economic synergy. International Journal of Management & Entrepreneurship Research, 6(8), 2637–2647. https://doi.org/10.51594/ijmer.v6i8.1411
Ur Rehman, K., Anwar, R. S., Antohi, V. M., Ali, U., Fortea, C., & Laura Zlati, M. (2024). Driving frugal innovation in SMEs: How sustainable leadership, knowledge sources and information credibility make a difference. Frontiers in Sociology, 9, 1344704. https://doi.org/10.3389/fsoc.2024.1344704
Van Gils, A., Huybrechts, J., Minola, T., & Cassia, L. (2019). Unraveling the impact of family antecedents on family firm image: A serial multiple-mediation model. Journal of Family Business Strategy, 10(1), 17–27.
Vasileiou, E., Georgantzis, N., Attanasi, G., & Llerena, P. (2022). Green innovation and financial performance: A study on Italian firms. Research Policy, 51(6), 104530. https://doi.org/10.1016/j.respol.2022.104530
Veiga, P. M. (2025). Key drivers of green innovation in family firms: A machine learning approach. Journal of Family Business Management, 15, 346. https://doi.org/10.1108/JFBM-08-2024-0191.
Voordeckers, W., Martínez-Romero, M. J., & Rojo-Ramírez, A. A. (2024). Family governance practices and the minimum required rate of return in privately held family firms. International Entrepreneurship and Management Journal, 20(2), 1245–1273. https://doi.org/10.1007/s11365-024-00952-y
Voordeckers, W., Van Gils, A., & Van den Heuvel, J. (2007). Board composition in small and medium-sized family firms. Journal of Small Business Management, 45(1), 137–156.
Wang, M., Li, Y., Li, J., & Wang, Z. (2021). Green process innovation, green product innovation and its economic performance improvement paths: A survey and structural model. Journal of Environmental Management, 297, 113282. https://doi.org/10.1016/j.jenvman.2021.113282
Wang, Y. Z., Lo, F. Y., & Weng, S. M. (2019). Family businesses successors knowledge and willingness on sustainable innovation: The moderating role of leader's approval. Journal of Innovation & Knowledge, 4(3), 188–195. https://doi.org/10.1016/j.jik.2019.05.001
Wu, B., Chen, F., Li, L., Xu, L., Liu, Z., & Wu, Y. (2024). Institutional investor ESG activism and exploratory green innovation: Unpacking the heterogeneous responses of family firms across intergenerational contexts. British Accounting Review, 57(4), 101324.
Yu, W., Ramanathan, R., & Nath, P. (2017). Environmental pressures and performance: An analysis of the roles of environmental innovation strategy and marketing capability. Technological Forecasting and Social Change, 117, 160–169. https://doi.org/10.1016/j.techfore.2016.12.005
Zellweger, T. (2017). Managing the family business: Theory and practice. Edward Elgar Publishing.
Zhang, L., Zhao, S., Cui, L., & Wu, L. (2020). Exploring Green Innovation Practices: Content Analysis of the Fortune Global 500 Companies. SAGE Open, 10(1). https://doi.org/10.1177/2158244020914640
Zhang, Q., & Ma, Y. (2021). The impact of environmental management on firm economic performance: The mediating effect of green innovation and the moderating effect of environmental leadership. Journal of Cleaner Production, 292, 126057. https://doi.org/10.1016/j.jclepro.2021.126057
Zheng, Z., & Xu, Y. (2022). Environmental Regulation, Family Involvement and Green Innovation Efficiency—Based on Sew Theory Framework. Sustainability, 14(20), 13258. https://doi.org/10.3390/su142013258
- Volume: 10; Issue: 2; eLocation-id: e781 DOI: 10.26784/c1hbgm20
- Copyright 2026 María J. Martínez-Romero, MCarmen Martínez-Victoria, Sandra Peña-Rodríguez
-

This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
- Submitted: 2026-10-22 Accepted: 2026-10-22 Published: 2026-10-20
- Abstract viewed - 0 - times
-
Downloads
Download data is not yet available.
