Open AccessThe Dynamic Model of Intellectual Capital Creation in Family Business: The Dynamic Capabilities Perspective
Author(s) -
Tung-Shan Liao,
Thi Thuy Dung Pham,
Juin-Cherng Lu
Publication year - 2021
Publication title -
journal of business administration research
Language(s) - English
Resource type - Journals
ISSN - 2630-5194
DOI - 10.30564/jbar.v4i2.2635
Subject(s) - socioemotional selectivity theory , dynamic capabilities , intellectual capital , business , competitive advantage , perspective (graphical) , industrial organization , family business , knowledge management , value (mathematics) , human capital , marketing , economics , market economy , psychology , computer science , finance , developmental psychology , artificial intelligence , machine learning
Article history Received: 30 October 2020 Accepted: 1 March 2021 Published Online: 20 April 2021 The purpose of this paper is to examine the role of knowledge and learning as a dynamic capability that leads to competitive advantage in family firms. It further conceptually develops a model showing the relationship between intellectual capital, firm performance, and dynamic capabilities in family firms. This study highlights knowledge accumulation, knowledge integration, knowledge codification, and the preservation of socioemotional wealth (SEW) as a set of dynamic capabilities. Such capabilities allow a family firm to sense and seize business opportunities and gain competitive advantages. Findings from the case applications reveal that family businesses benefit from the accumulation of knowledge through expertise, skills, and employment of non-family members and having family involvement as important strategic assets that lead to increased value in family firms’ performance.
Accelerating Research
Robert Robinson Avenue,
Oxford Science Park, Oxford
OX4 4GP, United Kingdom
Address
John Eccles HouseRobert Robinson Avenue,
Oxford Science Park, Oxford
OX4 4GP, United Kingdom