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New product portfolio performance in family firms

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  • Kraiczy, Nils D.
  • Hack, Andreas
  • Kellermanns, Franz W.
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    Abstract

    This study investigates the relationship between top management team (TMT) innovation orientation and new product portfolio performance in small and medium-sized family firms by exploring two family firm-specific sources of TMT diversity as moderators: the number of generations involved in the TMT and the ratio of family members in the TMT. Results indicate that family-induced diversity in the TMT has opposing moderating effects. Although a positive relationship exists between TMT innovation orientation and new product portfolio performance when multiple generations are involved in the TMT, TMT innovation orientation and new product portfolio performance experience a negative relationship when the ratio of family members in the TMT is high. The study discusses theoretical and managerial implications of the findings and develops avenues for future research.

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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Business Research.

    Volume (Year): 67 (2014)
    Issue (Month): 6 ()
    Pages: 1065-1073

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    Handle: RePEc:eee:jbrese:v:67:y:2014:i:6:p:1065-1073

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    Web page: http://www.elsevier.com/locate/jbusres

    Related research

    Keywords: Family firms; TMT innovation orientation; New product portfolio performance; Upper echelon theory; TMT diversity;

    References

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