“…This contradiction is not surprising considering the typical portrait of FB, revealing the persistence of important competitive disadvantages in key intangible assets for differentiation (Casillas, Moreno, & Barbero, 2011;Cooper, Upton, & Seaman, 2005;Kontinen & Ojala, 2010;Miller, McLeod, & Oh, 2001;Westhead, 1997), related to the lack of intellectual capital, knowledge (Block et al, 2011;Le Breton-Miller, Miller, & Lester, 2011) and innovation (Block, 2012;Chin, Chen, Kleinman, & Lee, 2009;Chrisman & Patel, 2012), and lower search breadth (Classen, Van Gils, Bammens, & Carree, 2012). As pointed out by Comi and Eppler (2014), family businesses lose their competitiveness as family managers are averse to taking entrepreneurial risks, over-exploiting existing competences and preventing the firm developing dynamic capabilities.…”