International and product diversification: Which strategy suits family managers?

International and product diversification: Which strategy suits family managers? Research Summary: This article explores the impact of family and professional managers on performance and how this relationship is affected by international and product diversification. Using a dataset of 262 German firms from 2000 to 2009, we find that an increasing proportion of family managers on the management board is associated with higher performance. This relationship is negatively moderated by higher levels of international diversification but reinforced by increased product diversification due to differences in the human and social capital between family and professional managers. Firms with a significant presence of family members on the top management team (TMT) face a choice of either adopting a corporate strategy that runs counter to “globalfocusing” or adjusting the balance of family and professional managers in the TMT. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Global Strategy Journal Wiley

International and product diversification: Which strategy suits family managers?

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Publisher
Wiley
Copyright
Copyright © 2018 Strategic Management Society
ISSN
2042-5791
eISSN
2042-5805
D.O.I.
10.1002/gsj.1190
Publisher site
See Article on Publisher Site

Abstract

Research Summary: This article explores the impact of family and professional managers on performance and how this relationship is affected by international and product diversification. Using a dataset of 262 German firms from 2000 to 2009, we find that an increasing proportion of family managers on the management board is associated with higher performance. This relationship is negatively moderated by higher levels of international diversification but reinforced by increased product diversification due to differences in the human and social capital between family and professional managers. Firms with a significant presence of family members on the top management team (TMT) face a choice of either adopting a corporate strategy that runs counter to “globalfocusing” or adjusting the balance of family and professional managers in the TMT.

Journal

Global Strategy JournalWiley

Published: Jan 1, 2018

Keywords: ; ; ; ;

References

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