A Bibliometric Study
Family-owned SMEs are of great importance to the economy of countries. For this reason, in
recent years more and more studies on this type of company have emerged. The resources and
capabilities of family SMEs are valuable and rare resources to find in other types of companies.
These resources are also difficult to imitate by the competition. If family SMEs know how to take
advantage of them, they can be facilitators of good performance as well as financial, non-
financial, and organizational effectiveness and stakeholder satisfaction. This study is a
bibliometric review of existing research on the resources and capabilities of family SMEs that has
been published in the SCOPUS database. The findings shows that, despite the fact that these
small and medium-sized enterprises boost economies, research on the capabilities and resources
of family SMEs is still scarce, concentrated in few authors and developed from a limited number
of countries, and highlights opportunities to study characteristics of image, age, board of
directors and CEO, and human resource management.
Keywords: family SMEs; capabilities; resources; family firms; family business
ABSTRACT
RESUMEN
Las PYMEs familiares revisten de una gran importancia para las economías de los países. Por ello
en los últimos años has surgido más estudios sobre este tipo de empresa. Los recursos y
capacidades de las PYMEs familiares recursos son valiosos, varios de ellos son raros de encontrar
en otro tipo de empresa, y además son difíciles de imitar por la competencia y que si se saben
aprovechar pueden ser facilitadores de un buen desempeño, financiero, no financiero,
efectividad organizacional y satisfacción de las partes interesadas. A través de una investigación
bibliométrica sobre estudios publicados en la base de datos SCOPUS. Los hallazgos muestran
que a pesar de que estas pequeñas y medianas empresas dinamizan las economías, aún es
escasa la investigación sobre las capacidad y recursos de las PYMEs familiares, estando la
producción concentrada en pocos autores y desarrollada desde un número limitado de países, y
resalta oportunidades de estudiar características de la imagen, edad, consejo directivo y director
ejecutivo, y los recursos humanos.
Keywords: PYMES familiares; capacidades; recursos; empresas familiares; negocios
familiares
Recursos y Capacidades de PYMEs familiares:
Un Estudio Bibliométrico
RESOURCES AND CAPABILITIES OF FAMILY SMES:
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La Revista Estudios es editada por laUniversidad de Costa Ricayse distribuye bajo
unaLicencia Creative Commons Atribución-NoComercial-CompartirIgual 3.0 Internacional.
Yendry Lezcano-Calderón
Universidad de Costa Rica
Golfito, Puntarenas, Costa Rica
yendry.lezcanocalderon@ucr.ac.cr
https://orcid.org/0000-0002-1072-5481
Recibido:
Aceptado:
24 de enero del 2023
20 de febrero del 2023
Dossier: Filosofía y Educación: desafíos y
nuevas miradas para el siglo XXI
Family businesses are among those that contribute most to wealth, employment, and the
creation of new jobs in most countries in the world (Leandro, 2012). According to Romero
(2006) there are several conceptions of what a family business is, considering that one of
the characteristics is that the degree of control in the ownership is of one or several
families, but the size of the company, family participation in the administration and
management of the business, succession of family generations are also considered.
The performance and strategies used in family SMEs depend to a large extent on the
degree of ownership participation, the form of management, and the control they have
over family members greatly affect the firm's performance and strategic choices (Ghalke
et al., 2022). The results suggest that family-specific characteristics, such as the generation
in charge of the firm and the level of family participation in the top management team,
shape the relationship between innovation and internationalization (Alayo et al., 2021).
The condition of family businesses with owner-managers can favor the inertia of the
management team, reducing the openness or willingness to make more innovative
strategic choices (Pla-Barber et al., 2010). Innovation and marketing habits and their
changes as a consequence of moments of crisis (Bajkó et al., 2022), the relationship
between innovation and internationalization processes and how the characteristics of
family firms are determinants in this relationship (Alayo et al., 2021; Mondal et al., 2022), are
some results that have evidenced differences between these firms and those that are not
family-owned. In addition, Classen et al. (2014) have compared family SMEs and their
differences with respect to non-family SMEs in terms of the level of product and process
innovation.
Studies have shown that SMEs are affected by lack of resources to compete in areas such
as marketing, production, innovation, and international strategy (Villar et al., 2014). Because
SMEs are more specialized in their activities, it becomes more important for them to
interact efficiently with other companies and institutions for knowledge exchange,
innovation and development, commercialization, and marketing activities (OECD, 2005).
Because of the inherent characteristics of family SMEs (Lahiri et al., 2020) in their study on
resource-based, institutional and industry factors and their impact on the
internationalization of family SMEs, they suggest research on structural, functional, affect,
network and cognitive resources that influence the internationalization of family SMEs.
Furthermore, considering (Mondal et al., 2022) although owners are presumed to be risk
averse, the findings of the study they conducted yield contrary data, thus suggesting
further study on elements such as board composition, family generation, senior
management team composition, intergenerational conflict, CEO antecedents.
While studies have shown that the diversity of knowledge and skills promotes the use of
external information, and that this strengthens the absorptive capacity of the firm (Classen
et al., 2012), it is necessary to know how the interrelation of social norms and policies
governing the family and business spheres (Arregle et al., 2007; Carlson et al., 2006).
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1. INTRODUCTION
Dossier: Filosofía y Educación: desafíos y
nuevas miradas para el siglo XXI
Revista Estudios, 2023
| Febrero 2023
Studies suggest the need to understand the organizational responsiveness of SMEs from
the perspective of knowledge management (Belkhodja, 2022) and the influence of
processes to improve absorptive capacity and the necessary resources and associated
configuration of resources to enable improved SME performance (Tzokas, 2015).
Particularly, it is recommended to study the impact of family business characteristics and
resources on the success of family business management, the management of its
knowledge processes and absorptive capacity and how they are used to generate and
maintain competitive advantage (Belkhodja, 2022).
Given the importance of family SMEs and despite the increasing number of studies on
factors that affect their strategies and results, it is evident research on their capabilities
and resources is still scarce, which is vital for their performance.
The results of this research will be useful for the academic community, as it suggests
future studies on the characteristics and management strategies that could have practical
implications for this type of companies and for the countries.
This document is divided into six sections. The first corresponds to the presentation of the
topic, problem, and purpose. The second refers to the theoretical framework that governs
the study. The third section describes the methodology followed. The fourth contains the
bibliometric results. The fifth section contains the discussion. Finally, the sixth presents the
conclusions, limitations and future research.
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Resources and Capabilities of Family SMEs: A Bibliometric Study
| Lezcano-Calderón, Yendry
Dossier: Filosofía y Educación: desafíos y
nuevas miradas para el siglo XXI
Revista Estudios, 2023
| Febrero 2023
The results of the strategy or strategies that companies use for their activities determine
their performance, regardless of whether this is evaluated in terms of some financial
elements (Dibrell et al., 2014) such as global and local sales of new products (Ma & Jin,
2019), an increase in sales, increased market share, increased margins and profitability
(Jayaram et al., 2021). Although depending on whether a company is family or not,
performance can be considered in terms of profitability and growth, or the promotion of
personal goals (Madison et al., 2014). Thus, the strategies followed by firms are determined
by the resources and capabilities they possess.
2.1 RESOURCES AND CAPABILITIES OF FAMILY-OWNED SMEs
Family firms should be considered heterogeneous organizations that can show
differentiated behaviors depending on the involvement of the family in the company
(Alayo et al., 2021). Therefore, the resources of family businesses influence their operating
capabilities, which, in turn, are reflected in the results. In addition, it is important to
consider that the size of SMEs can be another important factor in performance.
Structural resources are assets with their own characteristics linked to the form of
corporate governance structure (Sirmon et al., 2008). In family SMEs, these can be
considered in the degree of participation, to review the extent to which family members
2. THEORETICAL FRAMEWORK
Additionally, Lahiri et al. (2020) synthesizes that senior management is a functional
resource that considers the representation of the family as board directors, the CEO in the
senior management team. The knowledge, skills and experience of these members
influence how they advise and make strategic decisions in family SMEs.
Because family members are embedded in the social capital of their family, and their
privileged positions in the family business, they transmit their norms, values, and
narratives to the business through organizational identity and rationality. Therefore, in
family businesses there are higher levels of trust, principles of reciprocity and exchange
among family members (Arregle et al., 2007).
Affect-based resources are an advantageous factor of family SMEs (Peng et al., 2018)
because they are difficult to be transferred and imitated by other companies. The socio-
affective wealth characteristic of family SMEs is part of the internal social capital and a
resource where values, family identity (Sestu & Majocchi, 2020), trust, harmony (Scholes et
al., 2016), family generations (Alayo et al., 2021) and their succession (Shi et al., 2019) [esta
cita debería ir al final] influence decisions.
ME networks allow increasing trust, reducing risk aversion among network members and
boosting cooperation among them, finding shared values, reducing cooperation costs, all
of which have an impact on greater innovation, better communication and knowledge
transfer (Iturrioz et al., 2015). In particular, D'Angelo et al. (2016) reports that family SMEs
access important funding and information for internationalization, due to external social
capital, and even Lahiri et al. (2020) mentions that reputational assets and related local ties
are considered in their international activities.
According to Lahiri et al. (2020), one of the main cognition-based resources of any firm is
international experience, because it gives the ability to circumvent the uncertainties of
operating in a foreign country (Boellis et al., 2016). It is even stated that, regardless of
whether the management is family or not, their international experience positively affects
the export of family SMEs (Majocchi et al., 2018). Moreover, it has been generally exposed
that non-family members are the ones who more knowledge and new perspectives
(Arzubiaga et al., 2018) and that SMEs with a more significant proportion of non-family
members in the company represent a diversity factor in terms of knowledge, skills, and
experience (Matzler et al., 2015).
Moreover, dynamic capability is known to help the firm integrate, build and reconfigure
resources and capabilities to provide rapid responses to environments (Teece & Leih, 2016).
Absorptive capacity is only one of the capabilities, but one that allows assessing,
assimilating, and applying new knowledge from collaborators (Cohen & Levinthal, 1990).
Companies that have a strong absorptive capacity, can acquire new knowledge and use it
together with previous knowledge and thus use it in a better way in processes, particularly
in innovation processes (Leal-Rodriguez et al., 2014).
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Resources and Capabilities of Family SMEs: A Bibliometric Study
| Lezcano-Calderón, Yendry
Dossier: Filosofía y Educación: desafíos y
nuevas miradas para el siglo XXI
Revista Estudios, 2023
| Febrero 2023
Research has shown that firms' absorptive capacity can improve international sales
performance (Javalgi et al., 2014), because they can learn in and from foreign markets
(Franca & Rua, 2018). On the contrary, it has been suggested that knowledge about a
potential host country affects the speed with which firms expand internationally (Fletcher
& Harris, 2012).
Furthermore, it has been evidenced that external knowledge influences absorptive
capacity, and this, in turn, influences firms' innovative performance and financial
performance (Kostopoulos et al., 2011) and that the relationship between absorptive
capacity and firm performance in small and medium-sized enterprises (SMEs) is mediated
by strategic alliances (Flatten et al., 2011).
Tzokas et al. (2015) found that a firm's absorptive capacity induces better performance in
terms of new product development, market performance and profitability when used in
combination with the firm's ability to use state-of-the-art technologies and its ability to
consolidate customer relationships.
In particular, family SMEs that have a larger proportion of family members tend to make
deeper innovations, acquiring tacit knowledge about a specific area over the years in the
firm, which gives them an advantage as they know which collaborative innovation projects
will be more likely to succeed, as well as which will not (Katila & Ahuja, 2002).
Furthermore, in family SMEs the lack of diversity of knowledge, experience and network
contacts of those teams composed mostly of family members diminish the innovation
trajectory (Arzubiaga et al., 2018), which translates into less knowledge and experience
about recombinations of novel elements (Ahuja & Katila, 2004).
In addition, sharing capital, information, knowledge, and technology with other firms to
innovate results in the development of new resources and capabilities and improve
competitiveness in the market (Arzubiaga et al., 2019; Feranita et al., 2017; Muñoz-Bullón et
al., 2020).
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Resources and Capabilities of Family SMEs: A Bibliometric Study
| Lezcano-Calderón, Yendry
Dossier: Filosofía y Educación: desafíos y
nuevas miradas para el siglo XXI
Revista Estudios, 2023
| Febrero 2023
This study uses a bibliometric analysis with the intention of measuring, reviewing and
analyzing the academic research that has been developed so far on family SMEs and their
resources and capabilities (Roemer & Borchardt, 2015).
Bibliometric methods involve a large volume of bibliographic material and have been used
for the analysis of different authors, topics, journals, countries among others (Blanco-Mesa
et al.,2017; Durán Sánchez et al., 2014; Martínez- López-Robes et al., 2019; Mas-Tur et
al.,2019). For this study, the Bibliometrix application was used, which was developed to
perform complete scientific mappings of a topic (Aria & Cuccurullo, 2017). This is an open
source tool programmed in R that allows generating tables and graphs (Palos-Sánchez et
al., 2022).
3. METHODOLOGY
The first step was to determine SCOPUS as the database to be used, because it is one of
the most relevant and has quality indexes such as SJR, which has approximately 20% more
coverage than the Web of Science, and allows the simultaneous download of a
considerable number of references, in addition to the fact that the file it contains is easy to
integrate with bibliometrix (Falagas et al., 2008; Rojas-Sánchez et al., 2022). Subsequently,
the keywords "famil* SME*" AND "resources" OR "capability" were used, the asterisk is used
to complete with any termination, this search was performed in the fields: title, abstract
and keywords. Then, a filter was performed to limit the search to documents published
between 2013 and 2022 inclusive. In addition, since SMEs are a type of company, the search
was limited to research fields such as (1) business management, (2) economics, (3) social
sciences and (4) decision making, and finally, a search was established only for articles
(Podsakoff et al., 2005) in English to obtain the total number of documents with which this
study was carried out.
From the final articles, the fields authors, title, year of publication, journal, affiliations,
abstract, keywords were exported in a csv file.
For data analysis, the process used by Palos-Sánchez et al. (2022) and Rojas-Sánchez et al.
(2022) was followed, so the latest version of R, RStudio and the Bibliometrix package were
installed and then the Biblioshiny program was run as a graphical interface to obtain the
results.
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Resources and Capabilities of Family SMEs: A Bibliometric Study
| Lezcano-Calderón, Yendry
Dossier: Filosofía y Educación: desafíos y
nuevas miradas para el siglo XXI
Revista Estudios, 2023
| Febrero 2023
4.1 BIBLIOMETRIC RESULTS
The search for the keywords "famil* SME*" AND "resources" OR "capability" yielded a total
of 49 documents. Filtering the search by publication date between the years 2013 and
2022 resulted in a total of 39 documents. Subsequently, by limiting the search by research
fields, the results were reduced to 35 documents and by applying the last filter so that they
were only articles in English, a total of 30 articles were obtained. Table 1 shows that 27
journals host the publications and that the number of academic articles has been growing
during this decade. Furthermore, although there are many authors who have been
conducting studies on this topic, most of them do so in conjunction with at least one other
author.
4. RESULTS
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Resources and Capabilities of Family SMEs: A Bibliometric Study
| Lezcano-Calderón, Yendry
Dossier: Filosofía y Educación: desafíos y
nuevas miradas para el siglo XXI
Revista Estudios, 2023
| Febrero 2023
As shown in Figure 1, the number of scientific publications has been growing, although
discontinuously, with peaks in 2007 and 2022.
Table 1: Summary of the bibliographic information processed.
Source: Own elaboration, 2023
Figure 1: Summary of the bibliographic information processed.
Source: Own elaboration, 2023
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Resources and Capabilities of Family SMEs: A Bibliometric Study
| Lezcano-Calderón, Yendry
Dossier: Filosofía y Educación: desafíos y
nuevas miradas para el siglo XXI
Revista Estudios, 2023
| Febrero 2023
Bradford's law (Figure 3) allows the identification of the most relevant central journals in
the area of study, by means of a cumulative longitudinal distribution of documents by
discipline (Araújo & Arencibia, 2002), with the most important information remaining in
the shaded area (García-Río et al., 2022).
Figure 2: Most relevant sources
Source: Own elaboration, 2023
4.2. IDENTIFICATION OF SOURCES
Regarding the sources, the European journal of family business, Journal of small business
management and Review of managerial science are the journals that have published the
most studies, each with two articles (Figure 2).
Figure 3: Bradford’s Law
Source: Own elaboration, 2023
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Resources and Capabilities of Family SMEs: A Bibliometric Study
| Lezcano-Calderón, Yendry
Dossier: Filosofía y Educación: desafíos y
nuevas miradas para el siglo XXI
Revista Estudios, 2023
| Febrero 2023
Lotka's Law, which is the scientific distribution by author, can be clearly observed
graphically, showing that most authors have published 1, 2 or 3 articles (Figure 5).
4.2. IDENTIFICATION OF AUTHORS
The most relevant authors are Maseda A. with five articles, Arzubiaga U., Iturrialde T., both
with four papers and De Massis A. with three publications (see Figure 4), followed by other
authors with only one publication.
Figure 5: Frequency distribution of scientific productivity
Source: Own elaboration, 2023
Figure 4: Most relevant authors
Source: Own elaboration, 2023
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Resources and Capabilities of Family SMEs: A Bibliometric Study
| Lezcano-Calderón, Yendry
Dossier: Filosofía y Educación: desafíos y
nuevas miradas para el siglo XXI
Revista Estudios, 2023
| Febrero 2023
Table 2 shows the predominance of Maseda A., who has an h-index of 4, followed by
Arzubiaga U. and Iturrialda T., both with an h-index of 3, and De Massis A. with an h-index
of 2; these four authors have a total of 662 citations.
In the period reviewed in this publication it appears that Maseda A., Iturrialde T. and Arosa
B. are the authors with the oldest publications (2015), however, Arosa B o continued with
studies on this topic, contrary to Maseda A. and Iturrialde T, who were later joined by
Arzubiaga U and de Massis A (see Figure 6).
Table 2: Author impact
Source: Own elaboration, 2023
Figure 6: Top authors' production over time
Source: Own elaboration, 2023
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Resources and Capabilities of Family SMEs: A Bibliometric Study
| Lezcano-Calderón, Yendry
Dossier: Filosofía y Educación: desafíos y
nuevas miradas para el siglo XXI
Revista Estudios, 2023
| Febrero 2023
In terms of countries, Table 3 shows that the countries that lead in the production of
articles are Spain and Australia, with 19 and 10, respectively. These countries are followed
by Belgium with six papers, Germany and Malaysia both with five publications.
Figure 7 shows the affiliation of the authors, the University of the Basque Country detailed
as UPV/EHU with nine publications and six publications, followed by Hasselt University
with four articles and the University of Adelaide and the University of Witten/Herdecke
both with three publications.
Table 3: Country scientific production
Source: Own elaboration, 2023
Figure 7: Most relevant affiliations
Source: Own elaboration, 2023
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Resources and Capabilities of Family SMEs: A Bibliometric Study
| Lezcano-Calderón, Yendry
Dossier: Filosofía y Educación: desafíos y
nuevas miradas para el siglo XXI
Revista Estudios, 2023
| Febrero 2023
4.4 IDENTIFICATION OF DOCUMENTS
In the analysis of the articles, Arzubiaga U.'s article has 134 citations, much higher than
Lahiri S.'s article with 53 citations, followed by Basco R. and Masseda A.'s article with 36 and
34 citations, respectively (Figure 8).
It is noteworthy that, although Italy has only three publications, the country with the
highest number of citations in its articles is Italy with 134, an average of 134%. It is followed
by Spain with 54 citations and the USA with 53 (Table 4).
Figure 8: Most cited documents
Source: Own elaboration, 2023
Table 4: Most cited countries
Source: Own elaboration, 2023
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Resources and Capabilities of Family SMEs: A Bibliometric Study
| Lezcano-Calderón, Yendry
Dossier: Filosofía y Educación: desafíos y
nuevas miradas para el siglo XXI
Revista Estudios, 2023
| Febrero 2023
4.5
4.5 IDENTIFICATION OF THE CONCEPTUAL STRUCTURE
In the thematic map, in Figure 9, centrality is the importance of a particular field of
research and density is a measure of the development of the theme (Lizano-mora et al.,
2021). The four quadrants have a degree of greater or lesser importance and density
(García-Río et al., 2022; López-Robles et al., 201). Being that in the upper right quadrant are
the driving themes, which are the important themes for the construction of the scientific
field. In the upper left quadrant are the peripheral themes, which are internally developed
but isolated from the other themes. In the lower left quadrant are emergent themes.
Finally, in the lower right quadrant are located the basic and transversal themes that are
important for the development of the scientific field and are stable but with little
development.
Figure 9: Thematic map
Source: Own elaboration, 2023
In this study it is found that important topics continue to be family SMEs, family firm
image and firm age and a little less family firm, board of directors and family CEO.
Emerging topics are China and HRM (human resource management), the former probably
refers to the fact that there has been a trend, but for the purposes of future research HRM
is of interest. The cross-cutting themes are family business, SMEs and internationalization.
Among the topics that have been developing in isolation, emerging markets stand out.
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Resources and Capabilities of Family SMEs: A Bibliometric Study
| Lezcano-Calderón, Yendry
Dossier: Filosofía y Educación: desafíos y
nuevas miradas para el siglo XXI
Revista Estudios, 2023
| Febrero 2023
Figure 10: Word cloud
Source: Own elaboration, 2023
Figure 10 shows the word cloud, which highlights that after the words SMEs, family SMEs,
family businesses and family firms, the keywords board of directors, internationalization,
family firm image, firm size, innovation, firm age, family CEO and emerging markets stand
out. And as can be seen in Figure 11 the network of repetition of the terms.
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Resources and Capabilities of Family SMEs: A Bibliometric Study
| Lezcano-Calderón, Yendry
Dossier: Filosofía y Educación: desafíos y
nuevas miradas para el siglo XXI
Revista Estudios, 2023
| Febrero 2023
Figure 11: Thematic network
Source: Own elaboration, 2023
4.6 IDENTIFICATION OF THE SOCIAL STRUCTURE
In this study, the collaboration or co-authorship network is used for the analysis of the
social structure. Figure 12, in red color, shows the highest concentration of co-authorship
with six authors, being Maseda A., Iturrialde T. and Arzubiaga U the ones who stand out the
most.
Figure 12: Authors' colaboration network
Source: Own elaboration, 2023
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Resources and Capabilities of Family SMEs: A Bibliometric Study
| Lezcano-Calderón, Yendry
Dossier: Filosofía y Educación: desafíos y
nuevas miradas para el siglo XXI
Revista Estudios, 2023
| Febrero 2023
In the last decade, studies on family SMEs, their resources, and capabilities, have been
growing, although not in a sustained manner, nor with such well-defined lines. No
bibliometric study or systematic literature review on this subject was found during the
study period.
The most cited studies may also suggest the topics of major research interest, for example,
the article by Arzubiaga et al. (2018) studies stewardship theory and resource dependence
and the findings show that the board of directors has a link to entrepreneurship and
innovation in family SMEs. Moreover, the article by Lahiri et al. (2020) studies the tripod
strategy (resource-based, institution-based and industry-based factors) that impact the
internationalization efforts of family SMEs, considering family ownership and control for
being a family firm and of the size, flexibility and limited resources for being SMEs.
For their part, Basco & Calabrò (2016) found that family firms use (natural) network
resources in open innovation search strategies. And finally, Masseda et al. (2015) shows that
the composition and functions of the board of directors vary according to the generation
in charge of the firm so an external CEO could prove to be a resource that balances this
situation.
Research on family SMEs and their resources and capabilities is an area of study to be
developed with high potential in recent years, research is concentrated in few researchers,
affiliations.
Considering that the key words that are repeated the most are related to this type of
company, internationalization, innovation, image, and size of the firm, as well as board of
director and CEO, and that the thematic map considers these variables as well as human
resources management. These can be considered important themes linked to family
SMEs.
5. DISCUSSION
The bibliometric analysis carried out shows a boom in recent years in the study of family
SMEs and resources and capabilities. The results show keyword areas in trend, suggesting
that research could be further developed along these lines.
In addition, this study shows that research is concentrated in few authors, but in many
journals, which could mean that it is a topic that is approached or considered important
from different approaches.
It is important to note that although it has been shown how relevant these companies are
for the economic dynamics, few countries have conducted studies on this topic.
Furthermore, developing countries have not shown interest in this subject. A great
research gap about this issue prevails in Latin America countries, in which only Mexico,
through a collaborative network, has conducted studies on this topic.
6. CONCLUSIONS
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Resources and Capabilities of Family SMEs: A Bibliometric Study
| Lezcano-Calderón, Yendry
Dossier: Filosofía y Educación: desafíos y
nuevas miradas para el siglo XXI
Revista Estudios, 2023
| Febrero 2023
Because this study used only the SCOPUS database as a reference, which although it is
important and of high quality, this limits the articles that have been published.
Given the great contribution that family SMEs make to the economy of nations, and
considering the driving themes, cross-cutting themes and emerging themes, it is
suggested that future research be conducted on resources and capabilities and their
relationship with age, image, the role of the CEO and the management group, as well as
the management of human resources and internationalization, since delving into these
themes could yield greater results that would allow companies and institutions to take
measures and policies for better results.
Ahuja, G., & Katila, R. (2004). Where do resources come from? The role of idiosyncratic
situations. Strategic management journal, 25(8‐9), 887-907.
https://doi.org/10.1002/smj.401
Alayo, M., Iturralde, T., & Maseda, A. (2021). Innovation and internationalization in family
SMEs: analyzing the role of family involvement. European Journal of Innovation
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