How Family Management and Firm Age Influence a Firm’s Diversification Choices
Abstract
From the socioemotional wealth and temporal perspectives, we examine how family management and firm age influence a firm's choices between product diversification and international diversification. We hypothesize that family management is positively related to the preference for product diversification over international diversification and that the positive relationship becomes stronger among older firms. Our projections receive support from dynamic panel analyses of a sample of 422 manufacturing firms from the S&P 1,500 using the system generalized method of moments (GMM) approach. Our findings suggest that family management's tendencies to preserve SEW lead to a stronger preference towards product diversification over time.
Recommended Citation
Su, E., Wang, Z. H., Fang, C., & Chrisman, J. J. (2025). How Family Management and Firm Age Influence a Firm’s Diversification Choices. Academy of Management Annual Meeting Proceedings, 2025(1) Academy of Management.
The definitive version is available at https://doi.org/10.5465/AMPROC.2025.113bp
Department(s)
Business and Information Technology
International Standard Serial Number (ISSN)
2151-6561; 0065-0668
Document Type
Article - Conference proceedings
Document Version
Citation
File Type
text
Language(s)
English
Rights
© 2025 Academy of Management, All rights reserved.
Publication Date
01 Jan 2025
