Blending In While Standing Out: Selective Conformity and New Product Introduction in Family Firms

Research on the conformity-distinctiveness trade-off in family firms is divided. Examining the product innovations of Spanish manufacturing firms between 1998 and 2012, we hypothesize that family and nonfamily firms conform selectively and are driven by different motivations. Family firms align with their closest peers to avoid social losses while nonfamily firms conform to firms with different attributes to pursue social gains. Moreover,...