Eco-innovations in family SMEs: Understanding the role of financial performance satisfaction (open access)
Phuong-Anh Nguyen Duong, Wim Voordeckers, Jolien Huybrechts, Frank Lambrechts & Anita Van Gils
In: Journal of Small Business Management, 1–29. Vol. ahead-of-print No. ahead-of-print.
https://doi.org/10.1080/00472778.2024.2405537
ABSTRACT
What drives eco-innovations among family SMEs? Given the mixed findings about family firms' engagement in environmen-tal practices, this question has profound implications for acade-mia and practitioners. By applying the mixed gamble lens, we propose an inverted U-shape relationship between financial performance satisfaction and the extent to which family SMEs introduce eco-innovations. An analysis using data from Dutch family SMEs supports our hypothesis. Our results provide not only managerial implications for family business practitioners to enhance eco-innovations, but also challenge prior findings in sustainability and family business research regarding the linear relationship between financial performance satisfaction and strategic decisions, opening avenues for future research to dive deeper into the complex impact of financial performance satisfaction on organizational outcomes.
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