The long-term success of many family firms has long attracted management scholars. Re-search, however, has only just started to investigate exploration and exploitation as anteced-ents of sustained performance advantages in family firms. This thesis investigates the influence of family top management team involvement and family CEOs' goals and motivations on exploration and exploitation. Empirical results indicate that faultlines between family and nonfamily managers, triggered by differing underlying aspirations, harm the pursuit of exploration and exploitation. Particularistic motivations of family CEOs' can reinforce differences. This dissertation contributes to research on family firms, upper echelons, and exploration and exploitation.
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The long-term success of many family firms has long attracted management scholars. Re-search, however, has only just started to investigate exploration and exploitation as anteced-ents of sustained performance advantages in family firms. This thesis investigates the influence of family top management team involvement and family CEOs' goals and motivations on exploration and exploitation. Empirical results indicate that faultlines between family and nonfamily managers, triggered by differing unde...
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