Title: Internal and external resources of competitive advantage for small business success: validation across family ownership

Authors: Jeffrey M. Campbell; Joohyung Park

Addresses: Department of Retailing, The University of South Carolina, 1016-C Carolina Coliseum, Columbia, SC 29208, USA ' Department of Retailing, The University of South Carolina, 1016-C Carolina Coliseum, Columbia, SC 29208, USA

Abstract: The current study reviews both internally-driven strategic factors such as entrepreneurial orientation and firm capital and externally-driven factors such as social capital and community social responsibility and their effects on business performance across family-owned small businesses. Under a resource-based view of the firm framework, the sample was analysed using structural equation modelling. Results suggested that entrepreneurial orientation, firm capital, and corporate social responsibility reflect a significant positive relationship with business performance. Testing of relationship effects based upon ownership type (family versus non-family owned) showed no significant differences. Implications and future research directions for practitioners and academics were provided.

Keywords: family business; strategic orientation; corporate social responsibility; CSR; resource-based view; RBV; small business; competitive advantage; small firms; family firms; internal resources; external resources; family ownership; small business; entrepreneurial orientation; firm capital; social capital; entrepreneurship; structural equation modelling; SEM.

DOI: 10.1504/IJESB.2016.075016

International Journal of Entrepreneurship and Small Business, 2016 Vol.27 No.4, pp.505 - 524

Received: 20 Dec 2014
Accepted: 16 May 2015
Published online: 29 Feb 2016 *

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