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Family firms and Industry 4.0 innovation: a new study

Industry 4.0

Industry 4.0

Industrial districts have undergone dramatic changes in recent decades, also due to the emergence of disruptive digital technologies connected to Industry 4.0. Although firms belonging to industrial districts share a particular and homogeneous context, know-how, and collection of behaviors, certain firms have different features.
For instance, in a recent study, using survey results from Italian companies based in the Marshallian Industrial Districts, we analyzed whether district family businesses are more likely to embrace Industry 4.0 technologies than non-family business counterparts.
Our results suggest that family businesses are more likely to embrace Industry 4.0 technologies. As a result, relative to non-family peers, family businesses are well-positioned to compete in the latest technology wave, playing a key role in the transition of the Marshallian Industrial Districts.