“…This has led to considerable research interest in examining why, how and when EO manifests in family firms (Boling et al, 2016; Stanley et al, 2019). There is an ongoing debate on how the distinctive characteristics of family firms, as well as environmental factors, foster or hinder EO (Arz, 2019; Casillas et al, 2010; Lumpkin et al, 2010; Miller et al, 2016; Naldi et al, 2007). There have been studies on structural family-related characteristics such as family involvement in ownership (Block, 2012; Zahra, 2012), governance (Arzubiaga et al, 2018; Bauweraerts and Colot, 2017), management (Alayo et al, 2019; Casillas and Moreno, 2010; D’Allura, 2019; Revilla et al, 2016) and generational involvement (Cherchem, 2017; Chirico et al, 2011; Cruz and Nordqvist, 2012; Kellermanns et al, 2008; Sciascia et al, 2012).…”