Diversification strategy, CEO management style and firm performance: an application of Heckman’s two-stage method

Diversification strategy, CEO management style and firm performance: an application of... This paper aims to explore whether CEOs’ management style as agents or as stewards, which depends on their psychological and situational characteristics, moderates the effect of the diversification strategy on firm performance. After applying Heckman’s two-stage method to control econometrically for endogeneity bias in empirical work, results demonstrate that the relationship between diversification and profitability varies significantly depending on the management style of the diversifying CEO. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Quality & Quantity Springer Journals

Diversification strategy, CEO management style and firm performance: an application of Heckman’s two-stage method

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Publisher
Springer Journals
Copyright
Copyright © 2010 by Springer Science+Business Media B.V.
Subject
Social Sciences; Methodology of the Social Sciences; Social Sciences, general
ISSN
0033-5177
eISSN
1573-7845
D.O.I.
10.1007/s11135-009-9290-3
Publisher site
See Article on Publisher Site

Abstract

This paper aims to explore whether CEOs’ management style as agents or as stewards, which depends on their psychological and situational characteristics, moderates the effect of the diversification strategy on firm performance. After applying Heckman’s two-stage method to control econometrically for endogeneity bias in empirical work, results demonstrate that the relationship between diversification and profitability varies significantly depending on the management style of the diversifying CEO.

Journal

Quality & QuantitySpringer Journals

Published: Jan 13, 2010

References

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