Prior research has analyzed R&D spending in family and founder firms. Yet, little is known about the economic and technological importance of innovations in these types of firms. Using patent citation data, we show that founder-managed firms, which we argue favor an entrepre-neurial orientation,...

Innovation is conceptualized in different ways from firm to firm. While some firms tend to accept a more conservative approach towards innovation, other firms approach innovation from a more entrepreneurial perspective. A conservative model of innovation and an entrepreneurial model of...