Exploring family millennials' involvement in family business internationalization: Who should be their leader?. Issue 3 (September 2022)

• Record Type: Journal Article
• Authors: Cirillo, Alessandro; Maggi, Barbara; Sciascia, Salvatore; Lazzarotti, Valentina; Visconti, Federico
• Is Part Of: Journal of family business strategy. Volume 13:Issue 3(2022)
• Publication Date: 2022-09
• Subjects: Millennials -- Export intensity -- Non-family CEO -- Millennial CEO -- Internationalization -- Generational theory; Family-owned business enterprises -- Management -- Periodicals; Strategic planning -- Periodicals; planning -- Periodicals; 658.04505
• DOI: 10.1016/j.jfbs.2021.100455
• Languages: English
• ISSNs: 1877-8585

Abstract

Highlights: This explorative study investigates the impact of family millennials on export intensity in private family firms. The involvement of family millennials is approached under the theoretical perspective of generational theory. Results reveal a positive impact of family millennials on export intensity. Having a millennial as CEO increases the positive impact of family Millennials. When a family CEO guides the firm, family millennials' impact turns negative. Abstract: Drawing on generational theory, we argue that family millennials' involvement is a driver of export intensity in family firms, but it depends on two different CEO characteristics, namely: family membership and societal generational membership. An ordered probit regression analysis on 92 Italian family firms confirms that the involvement of family millennials positively influences export intensity and that a millennial CEO enhances that positive effect. In addition, we found that a non-family CEO amplifies such a positive effect, whereas a family CEO tends to turn the tide so that the effect of family millennials' involvement becomes negative. The novel findings of our explorative study contribute not only to the research on family business and internationalization, but also to the literature on generational theory.