YUNG-CHIH LIENLi, SMSMLi2019-10-022019-10-0220130148-2963https://scholars.lib.ntu.edu.tw/handle/123456789/425620Using 205 Taiwanese firms spanning five years, this research examines how corporate governance factors specific to emerging economies determine the extent of diversification and moderate its performance. The analyses reveal that controlling family ownership is significantly associated with a greater extent of diversification, which impairs firm value. Conversely, domestic bank ownership significantly decreases diversification, which in turn increases diversification performance. These findings present the evidence of controlling family entrenchment through diversification and the significant role domestic banks play in the principal-principal corporate governance framework. ? 2013 Elsevier Inc.enDiversification; Controlling family; Institutional investor; Principal-principal conflict; Corporate governancejournal article10.1016/j.jbusres.2013.05.0302-s2.0-84883788219WOS:000326214300009https://api.elsevier.com/content/abstract/scopus_id/84883788219