Product diversification and financial performance: The moderating role of secondary stakeholders

Weichieh Su, Eric W.K. Tsang

研究成果: Contribution to journalReview article査読

42 被引用数 (Scopus)

抄録

The challenges firms face increase with their product diversification levels because different product markets possess different sociopolitical issues. We argue that secondary stakeholders, as represented by various nonprofit or non-governmental organizations, serve as agents mitigating the external constraints embedded within sociopolitical environments. Firms should therefore maintain relationships with different secondary stakeholder scopes commensurate with their product diversification levels in order to enhance financial performance. Analyzing a sample of U.S. Fortune 500 firms during the period from 1996 to 2003, we found that secondary stakeholders play a positive moderating role in the relationship between product diversification and financial performance. Furthermore, this moderating effect was stronger in the case of unrelated diversification than in related diversification.

本文言語英語
ページ(範囲)1128-1148
ページ数21
ジャーナルAcademy of Management Journal
58
4
DOI
出版ステータス出版済み - 8 1 2015

All Science Journal Classification (ASJC) codes

  • ビジネスおよび国際経営
  • ビジネス、管理および会計(全般)
  • 戦略と経営
  • 技術マネージメントおよび技術革新管理

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