Do family ties shape the performance consequences of diversification? Evidence from the European Union

Fernando Muñoz-Bullón and Maria J. Sánchez-Bueno

Journal of World Business, 2012, vol. 47, issue 3, 469-477

Abstract: This paper examines the moderating effect of family involvement in ownership and control on the relationship between diversification strategies – both product and international diversification – and corporate performance. We argue that this moderating effect is related to the distinctive characteristics of family firms compared to non-family firms. The empirical evidence is provided by a sample of firms from the European Union during the 2005–2009 time period. Our results found that family firms are more profitable than non-family firms when they engage in joint product and international diversification.

Keywords: Family firms; Product diversification; International diversification; Performance; EU (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:eee:worbus:v:47:y:2012:i:3:p:469-477

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DOI: 10.1016/j.jwb.2011.05.013

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