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Information and communication technologies (ICT) are indispensable tools for Knowledge Management (KM) practices in today’s knowledge-intensive and globally interconnected marketplace. This paper seeks to investigate the impact of family ownership on ICT investments in an emerging economy (EE) context.

This empirical paper uses data from 300 large Indian listed firms with 2,650 observations in the period 2008–2017, to test its hypothesis.

The results indicate that family firms are not favourably inclined towards ICT investments for formalizing their KM practices. However, under certain contexts, such as higher foreign institutional ownership or business group affiliation, they are more willing to invest in ICT resources.

This study establishes a nuanced understanding of how family firms approach ICT investments and KM practices. This research can help family owners/managers to commit sufficient resources on ICT projects.

Literature on KM has largely emanated from developed countries. This is one of the first papers from an EE context that studies the impact of family ownership on ICT investments and subsequent KM practices. In this way, this paper offers specific insights into the context of Indian family firms and offers some interesting findings that can contribute to the literature, policy and practice.

This study seeks to highlight the dynamic nature of entrepreneurial orientation (EO) by investigating how firms respond to adversity, i.e. performance below aspiration levels through pertinent changes in EO, and if some of these changes can be accounted for based on the ownership of the firm.

This study adopts a multiple regression using an ordinary least square methodology on a sample of 13,333 Indian firms within the period 2005–2016 to test its hypothesis.

This research sheds light on performance feedback as an antecedent to EO as also on the effect of ownership moderating this relationship, with diversity in resource configuration and governance arrangement being the key drivers.

This is a single country study; hence, there is a possibility of a country-specific bias. This study uses a secondary measure of EO and thus is unable to capture the entrepreneurial intentions and opinions of managers.

The study establishes a nuanced understanding of how ownership impacts the entrepreneurial behaviour of firms during times of adversity.

This study may help policymakers draft appropriate policy interventions for firms at the time of adversity, so that they can improve their entrepreneurial spree.

This rare study from an emerging market establishes performance feedback as an important antecedent of EO. It further highlights the vital role of ownership in supporting/constraining EO.

The purpose of this paper is to ascertain the impact of family ownership on the entrepreneurial orientation (EO) of firms in an emerging market and the contingencies under which it is likely to be affected.

The paper adopted a panel data multiple regression using ordinary least square methodology on a sample of 51,972 observations belonging to 12,250 firms from India.

The study finds that family businesses have higher EO than non-family firms. However, it is likely to be affected during institutional transition due to environmental uncertainty. Furthermore, during institutional transition, there will be differences in the EO of family business groups and stand-alone family firms due to the former’s ubiquitous network-level resource advantages.

This paper contributes to the literature on family business by reconciling the positive and negative views on the effect of family ownership on EO by arguing that the risk-taking behavior of family firms is contingent on the environmental conditions and the resource position of the firm.

This study will enable managers and other stakeholders to predict the entrepreneurial attitude of family-owned firms during environmentally stable as well as turbulent times.

This study highlights the implication of institutional transition through reforms on a vital part of the economy. Policy makers have to be sensitive to repercussions on family business due to environmental turbulence.

This is one of the first papers that investigate the influence of institutional transition and the resource position of Indian family firms on their EO.