Diversification decisions among family firmsthe role of family involvement and generational stage

  1. Fernando Muñoz-Bullon 1
  2. Maria J. Sanchez-Bueno 1
  3. Isabel Suárez-González 2
  1. 1 Universidad Carlos III de Madrid
    info

    Universidad Carlos III de Madrid

    Madrid, España

    ROR https://ror.org/03ths8210

  2. 2 Universidad de Salamanca
    info

    Universidad de Salamanca

    Salamanca, España

    ROR https://ror.org/02f40zc51

Revista:
Business Research Quarterly

ISSN: 2340-9444 2340-9436

Año de publicación: 2018

Volumen: 21

Número: 1

Páginas: 39-52

Tipo: Artículo

DOI: 10.1016/J.BRQ.2017.11.001 DIALNET GOOGLE SCHOLAR lock_openAcceso abierto editor

Otras publicaciones en: Business Research Quarterly

Resumen

While prior literature has focused on whether family firms are more or less inclined to diversification than non-family firms, the examination of differences in diversification among family firms has received much less attention. We analyze how family involvement (in ownership, control, and management) and the generational stage in the company (first versus later generations) influence diversification among family firms. The empirical evidence is provided by a sample of publicly listed family firms from the EU. Our results show that larger levels of family involvement in the firm are associated with lower diversification. Furthermore, first-generation family firms are found to be less diversified than their later-generation counterparts.

Información de financiación

Financial support is gratefully acknowledged from the following institutions: ECO2013-4780-R MINECO, ECO2016-75379-R AEI/FEDER, UE, and ECO2016-76876-R AEI/FEDER, UE.

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