9. Conclusion
Research on family business and EO will advance by paying greater attention to the involvement of family members in the management of their firms. In this paper, we have focused not only on the proactiveness as a source of performance of family firms, but also, on the moderating negative role of FIM on risk-taking – performance relationship. There is a contribution to the literature on EO by showing that EO construct and its dimensions have great generality within family firms. We conclude that even if family firms do take risks while they are engaged in entrepreneurial activities by innovating, competing proactively in their markets, they take risk to a lesser extent especially when the family members are involved in the management of firm activities. This is a contribution in the literature of family firms by opening debate on other types of governance of these firms to be monitored in presence of firm owners and family members as managers (e.g. such as family involvement in ownership, or in the TMT […]).