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This paper aims to identify potential explanatory variables of the entrepreneurial orientation and innovation capacity (EO-IC) of family enterprises (FEs) through a comparative study of family businesses in Spain and Latin America. The innovation literature reports a paradigm shift whereby the dynamic boost provided by corporate governance and productivity is playing an increasing role as a driver of EO-IC and sustainable competitive advantage. This issue acquires particular relevance in the case of family firms, where entrepreneurial and innovation capacities are characteristically hampered by socio-emotional and risk-aversion factors. We construct a panel of data on 182 large family enterprises (1,820 observations) domiciled in Argentina, Brazil, Chile, Colombia, Mexico, Peru, Uruguay and Spain, drawing on the Thomson Onebanker and ORBIS databases for the period 2008-2018. The results reveal the emergence of new explanatory variables for the structure of the family-firm EO-IC framework, some related to productivity; others more basically to corporate governance. They also show that, in Latin America, the use of business efficiency (productivity) factors in the planning and potentiation of EO-IC by family firms is hampered by the institutional (legal, regulatory, labour and educational) environment, where traditional factors such as firm size and ownership concentration are more relevant. In the Spanish case, however, the evidence points to a transition from traditional inputs towards business efficiency and productivity- related factors. [ABSTRACT FROM AUTHOR]

Corporate entrepreneurship remains a phenomenon under study due to the positive impact it has generated, first of all, over companies, strengthening their competitive advantages and increasing their value. Secondly, it contributes to the macroeconomic dynamism that occurs in nations in terms of growth, employment, income, innovation and competitiveness. Focusing on Theories of Corporate Entrepreneurship and Resources and Capabilities, the aim of this paper is to relate the entrepreneurial orientation as intention to corporate entrepreneurship as action, considering their differences and complementarities. The database used for empirical confrontation comes from the survey of 137 SME in the Colombian manufacturing sector. Multivariate analysis models and structural equations were estimated, and quantitative evidence of direct and positive relationships with both phenomena indirectly mediated by the capability to assess and manage projects will be presented. This capability has been little explored in previous studies and not proven in relation to the phenomenon analyzed. The results of the factor analysis suggest that this capability can be considered as a theoretical construct, adding theoretical developments with respect to previous studies which have included and analyzed other capabilities. [ABSTRACT FROM AUTHOR]