Corporate venturing in family firms: A systematic literature review and future research agenda

Corporate venturing initiatives are crucial for the survival, profitability, and growth of family firms. Although research on corporate venturing in family firms has expanded significantly over the past decades, it remains fragmented and conceptually inconsistent. To address these gaps, this systematic literature review comprehensively maps and integrates the existing research on corporate venturing in family firms, focusing on antecedents, intervening factors, outcomes, and their interrelationships. The review specifically considers the intertwined family, ownership, and business levels that together form the social system in which corporate venturing is embedded. Based on this analysis, the review offers several recommendations and suggests potential directions to advance the field further. • We reviewed 68 studies on corporate venturing in family firms, revealing key research gaps. • We build a framework combining antecedents, mediators, outcomes and factors of corporate venturing. • Factors are classified into ownership, family, and business-level dimensions. • Future research needs to incorporate a multilevel and cross-level view of family firms' corporate venturing.