Patents, trade secrets and performance aspirations in family firms

Hussinger, Katrin and Issah, Wunnam Basit (2025) Patents, trade secrets and performance aspirations in family firms. Journal of Business Research. ISSN 0148-2963 (In Press)

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Abstract

We investigate whether family ownership is associated with a preference for patents or trade secrets. Using a sample of S&P 500 firms, we show that family ownership is negatively associated with patenting and positively associated with the usage of trade secrets. We further show that both relationships are moderated by firm performance below the aspiration level, i.e. the performance benchmark level that an organization sets. These results can be explained with a mixed gambles behavioral agency framework. When family firms perform below their aspiration level, prospective financial gains become relatively more important as compared to current socio-emotional wealth so that patents become more and trade secrets less attractive.

Item Type:	Article
Faculty \ School:	Faculty of Social Sciences > Norwich Business School
UEA Research Groups:	Faculty of Social Sciences > Research Groups > Strategy and Entrepreneurship
Depositing User:	LivePure Connector
Date Deposited:	24 Apr 2025 10:30
Last Modified:	03 May 2025 16:30
URI:	https://ueaeprints.uea.ac.uk/id/eprint/99078
DOI:

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