Smaller family companies are the unexpected innovation powerhouses in many countries in the world

(The Conversation is an independent and nonprofit source of news, analysis and commentary from academic experts.)

Vitaliy Skorodziyevskiy, University of Louisville; Chelsea Sherlock; Clay Dibrell; Emma Su, University of Dayton, and Jim Chrisman, Mississippi State University

(THE CONVERSATION) Close your eyes and imagine a world where the most innovative companies aren’t big tech giants but family-run businesses. Now open your eyes, because you don’t have to imagine it: It’s reality.

That’s what ourteamofbusinessexperts found in a recent global analysis of research into family-owned and family-run firms.

When we reviewed 193 studies published from 1996 through 2022 about the strategies, including innovation, that these businesses pursue,...