Doucet Sánchez, Pablo FranciscoRequejo, IgnacioSuárez González, Isabel2024-09-032024-09-032022-05-24Doucet, P., Requejo, I. & Suárez-González, I. (2023). Diversification Decisions of Family SMEs under Uncertainty: Goals as a Rule of Thumb. Entrepreneurship Research Journal, 13(3), 567-600. https://doi.org/10.1515/erj-2021-04362157-5665https://doi.org/10.1515/erj-2021-0436https://hdl.handle.net/20.500.14468/23598The registered version of this article, first published in “ Entrepreneurship Research Journal, 13(3), 567-600", is available online at the publisher's website: De Gruyter, https://doi.org/10.1515/erj-2021-0436La versión registrada de este artículo, publicado por primera vez en “ Entrepreneurship Research Journal, 13(3), 567-600", está disponible en línea en el sitio web del editor: De Gruyter, https://doi.org/10.1515/erj-2021-0436Leveraging on the behavioural mixed gamble lens, we contend that heterogeneity in organisational goals leads to different diversification behaviours in family firms. Using survey and archival data on a sample of 988 family SMEs homogenous in their (high) family involvement level, we show that family SMEs that pursue nonfinancial (financial) goals exhibit lower (higher) probability of extending the boundaries of the firm to new product and/or market domains. Interestingly, in the face of threats, only those family SMEs that prioritise financial goals exacerbate their propensity to diversify, while increased vulnerability leads to an even lower probability of adopting diversification decisions among family SMEs with nonfinancial goalseninfo:eu-repo/semantics/openAccess53 Ciencias Económicas::5311 Organización y dirección de empresasartículofamily firmsorganisational goalsdiversification