New product portfolio performance in family firms

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 a...

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Bibliographic Details
Published in:Journal of business research 2014-06, Vol.67 (6), p.1065-1073
Main Authors: Kraiczy, Nils D., Hack, Andreas, Kellermanns, Franz W.
Format: Article
Language:English
Subjects:
Family firms
Family owned businesses
Generations
Innovation
Investment analysis
Management theory
New product portfolio performance
Organizational behaviour
Personal finance
Portfolio performance
Product introduction
Small & medium sized enterprises-SME
Small and medium sized enterprises
Studies
TMT diversity
TMT innovation orientation
Upper echelon theory
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Summary: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.
ISSN:0148-2963
1873-7978
DOI:10.1016/j.jbusres.2013.06.005