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Innovation Orientation and Corporate Venturing: Are Family Firms Really Different?
The aim of this paper is to analyze whether innovation orientation, a central element of entrepreneurial orientation, impacts on corporate entrepreneurship activities of businesses and to what extent high family ownership and influence moderates this relationship. Stemming from partial least squares (PLS) structural equation modeling, performed on a sample of 235 Norwegian firms, our results show that the effect of innovation orientation on the level of corporate entrepreneurship activities is significantly positive. This finding holds both for national and international venturing activities, but for the latter to a lesser extent. The moderating effect of family ownership and influence is found to be significantly negative concerning national venturing. At the same time, there was no moderating effect found related to international venturing, suggesting that family ownership and influence have neither a positive nor negative impact on this relationship. Discussion of the findings and future research avenues are provided.