Second, although we have looked at three internal variables
relating to the family nature of the firm, we would stress, because
of its novelty, the role of the next generation’s input to the family
business. This variable has rarely been considered in prior studies
and assumes that succession is a process that begins long before a
change in the leadership of a family firm. The results obtained
provide evidence for the influence of this dimension on the EO of
family firms. Our work presents new evidence that, within the field
of entrepreneurship, further investigation is required of the
independent analysis of the different dimensions of the EO
construct. Our results provide new opportunities for research on
how different family characteristics differentially affect each of the
EO dimensions. Furthermore, our results suggest that the effects of
each EO dimension (separately) on firm performance could be
different and need to be investigated in greater detail. Finally, our
work highlights the contingent role of environmental variables in
the study of EO