Values and Internationalization of Family Firms: Insights From the Wine Industry

This study investigates how values affect family firm internationalization. Coherently with the exploratory nature of this study, we adopt a qualitative research design based on a comparative analysis of two case studies. In particular, we focus on two Italian family firms both founded in 1880 and operating in the wine industry, a sector where values such as the connection with the original terroir have a fundamental relevance. Our findings thus show how firm strategic choices related to internationalization can be traced back not only to different values, but also to a different interpretation and implementation of the same values by the owning family. By identifying four types of values (i.e., product quality, legacy with the territory, family harmony and time orientation), our study advances current understanding of the link between values and family firm internationalization.