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This study aims to advance our understanding of the strategic decision to innovate in automation (i.e., artificial intelligence, big data, and robotics) in family firms (FFs). To this end, we relied on the psychological foundations approach and the ambivalence in FFs, which gives rise to three archetypes of FFs: enmeshed, balanced, and disengaged. Moreover, we considered the negative and positive consequences of automation in terms of lower firm employment, lower employees' satisfaction and well-being, and higher firm productivity and their impact on three main non-economic goals and priorities pursued by FFs: the relationship between the family and the employees, the pride of creating a strong image and reputation for both the family and the firm, and the feeling to be socially responsible. This study adopts a qualitative approach: we conducted three case studies involving an enmeshed, a balanced, and a disengaged FFs that registered a patent in automation technologies. We conducted semi-structured interviews with the family owner and the R&D manager. We found that enmeshed FFs will limit innovation in automation mainly based on emotional concerns (family level). Balanced FFs will support innovation in automation based on a balanced view between emotional concerns (family level) and economic aspect (firm level). Finally, disengaged FFs will support innovation in automation mainly based on the economic aspect (firm level). Our study makes a relevant contribution to the literature and has important managerial and policy implications. [ABSTRACT FROM AUTHOR]

This paper aims to investigate the influence of CEO succession on Environmental, Social, and Governance (ESG) performance within European listed companies, delving into the moderating roles played by the gender and age of the incoming CEO. Analyzing a comprehensive sample spanning from 2010 to 2021, the study employs a robust empirical methodology, utilizing difference-in-difference and fixed-effects regressions as its primary tools. To ensure the reliability of the findings, alternative econometric approaches are also considered. The empirical results reveal a positive correlation between CEO succession and ESG performance, with the impact being significantly influenced by the characteristics of the incoming CEO. Specifically, the study finds that the positive effect is heightened when the incoming CEO is female, whereas it is tempered by the age of the CEO. This novel exploration opens a discourse on an underexplored subject at the European level, shedding light on the consequences of CEO succession for corporate ESG performance. The study contributes to the existing body of knowledge by utilizing a unique sample of European listed firms, presenting findings not previously addressed in empirical literature. [ABSTRACT FROM AUTHOR]