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Publicly Listed Family-Controlled Firms and Corporate Venture Capital

Patricio Durán et al.

Family Business Review2025https://doi.org/10.1177/08944865251369943article
AJG 3ABDC A
Weight
0.37

Abstract

Despite the prevalence of publicly listed family-controlled firms (FCFs) in high-technology sectors, the impact of family control on their corporate venture capital (CVC) strategy remains largely unexplored. Using socioemotional wealth (SEW) theory, we posit that FCFs in high-technology sectors are less likely to invest in CVC and, when they do, make fewer but larger CVC investments to enhance influence over startups and reduce risk. However, board independence can limit FCFs’ SEW-driven CVC investment behavior. Empirical evidence from a sample of U.S. publicly listed firms in three high-technology sectors supports most of our hypotheses.

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https://doi.org/https://doi.org/10.1177/08944865251369943

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@article{patricio2025,
  title        = {{Publicly Listed Family-Controlled Firms and Corporate Venture Capital}},
  author       = {Patricio Durán et al.},
  journal      = {Family Business Review},
  year         = {2025},
  doi          = {https://doi.org/https://doi.org/10.1177/08944865251369943},
}

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Publicly Listed Family-Controlled Firms and Corporate Venture Capital

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Evidence weight

0.37

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.16 × 0.4 = 0.06
M · momentum0.53 × 0.15 = 0.08
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.