Download or read book Family Ownership and Performance in Public Corporations written by David L. Kang and published by . This book was released on 2000 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the prevalence and impact of family ownership on performance in public corporations and the use of exit, loyalty, voice, and neglect in influencing corporate governance. A study of the U.S. Fortune 500 from 1982 to 1994 indicates that family owners appear in 30% of the U.S. Fortune 500 firms, and that 10% of the Fortune 500 firms have family owners as the single largest shareholders. Pooled, cross-sectional time series models indicate that family owners are positively associated with performance, and that there is a positive association with performance when a family member with some ownership stake is the non-CEO chairman of the board. In addition, in firms where the family is the single largest shareholder and a family member holds a non-CEO chairman position, there is a positive association with performance. These results suggest that because family owners have a credible threat of voice, the presence of family owners is positively associated with performance in large public corporations.

Download or read book Performance and Behavior of Family Firms written by Esra Memili and published by MDPI. This book was released on 2018-03-23 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a printed edition of the Special Issue "Performance and Behavior of Family Firms" that was published in IJFS

Download or read book The Impact of Ownership Type on Performance in Public Corporations written by David L. Kang and published by . This book was released on 1998 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study explores how power relationships between large-block shareholders and professional managers affect performance in public corporations. Certain types of shareholders with large ownership stakes are hypothesized to have formal authority, social influence and expertise that enables them to control public corporations, resulting in superior corporate performance. This idea is tested in a study of the U.S. textile industry from 1983-1992, an industry characterized by "transparent" economic conditions and strong social relationships between owners and managers, observed during a highly turbulent time period. Pooled, cross-sectional time series models indicate that controlling for ownership concentration, public corporations with outside-director owners, sustained owners and family owners each enjoy increased firm performance relative to industry competitors. These results suggest that large-block owners are not homogenous and that certain types of owners have a disproportionately large amount of influence in corporate governance.

Download or read book The SAGE Handbook of Family Business written by Leif Melin and published by SAGE. This book was released on 2013-11-15 with total page 697 pages. Available in PDF, EPUB and Kindle. Book excerpt: The SAGE Handbook of Family Business captures the conceptual map and state-of-the-art thinking on family business - an area experiencing rapid global growth in research and education since the last three decades. Edited by the leading figures in family business studies, with contributions and editorial board support from the most prominent scholars in the field, this Handbook reflects on the development and current status of family enterprise research in terms of applied theories, methods, topics investigated, and perspectives on the field′s future. The SAGE Handbook of Family Business is divided into following six sections, allowing for ease of navigation while gaining a multi-dimensional perspective and understanding of the field. Part I: Theoretical perspectives in family business studies Part II: Major issues in family business studies Part III: Entrepreneurial and managerial aspects in family business studies Part IV: Behavioral and organizational aspects in family business studies Part V: Methods in use in family business studies Part VI: The future of the field of family business studies By including critical reflections and presenting possible alternative perspectives and theories, this Handbook contributes to the framing of future research on family enterprises around the world. It is an invaluable resource for current and future scholars interested in understanding the unique dynamics of family enterprises under the rubric of entrepreneurship, strategic management, organization theory, accounting, marketing or other related areas.

Download or read book Board Structure and Corporate Performance written by M. Fazilah Abdul Samad and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We compare corporate governance and performance between family and non-family ownership of public listed companies in Malaysia from 1999 through 2005 measured by Tobin's Q, ROA and ROE. We find that on average, family ownership experiences a higher value than non-family ownership based on ROE. However, firm value is lower in family than non-family ownership based on Tobin's Q and ROA. In the analysis, the board size, independent director and duality for family and non-family ownership has a strong significant influence on firm performance.

Download or read book The Buddenbrooks Effect written by David L. Kang and published by . This book was released on 1998 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study explores how power relationships between large-block family owners and professional managers affect resource allocation decisions and performance in public corporations. Early-generation family shareholders with large ownership stakes are hypothesized to "control" public corporations using formal authority, social influence and expertise, resulting in superior resource allocation decisions and performance. These ideas are tested in a study of the U.S. textile industry from 1983-1992, a mature industry characterized by "transparent" economic conditions and strong social relationships between owners and managers, observed during a highly turbulent time period. Pooled, cross-sectional time series models indicate that controlling for ownership concentration, early-generation family owners are associated with superior resource allocation decisions and performance relative to industry competitors. These results are supported by field research interviews that suggest large-block family shareholders informally communicate with managers regarding important resource allocation decisions, and that families actively manage governance issues within family ownership blocks. Therefore, this study suggests that early-generation family owners have a disproportionately large amount of influence that is used in ways associated with appropriate resource allocation decisions and enhanced corporate performance.

Download or read book Family Business Ownership and Firm Performance written by Amin Abou Tacca and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate governance has succeeded in attracting a good deal of public interest because of its importance for economic development and society in general. Therefore corporate governance mechanisms are demanded. One possible corporate governance mechanism that can alleviate agency problems is "ownership structure". Ownership structure, including ownership concentration and managerial ownership, it is argued in this respect, can control a firm's management and have an impact on maximizing shareholders and stakeholders wealth. This study examines the relationship between ownership structure and firm performance of30 companies in Lebanon between 2010 and 2012. Moreover, there is a little evidence on a non-linear relationship between managerial ownership and firm performance, therefore we will examine the non-linearity relationship between managerial-family and non-managerial family ownership and firm performance.

Download or read book How Family Firms Differ written by S. Bhaumik and published by Springer. This book was released on 2014-11-25 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: Family firms account for a large proportion of firms in most countries. In industrialised countries of North America and Western Europe, they generally account for a large share of small and medium sized enterprises. In emerging market economies such as India, they also account for the majority of the large firms. Their importance for factors such as employment creation notwithstanding, relative to the widely held Anglo-Saxon firms, which are ubiquitous in the economics, finance and management literatures, family firms have historically received much less attention from scholars of these disciplines. However, in part owing to increased focus on emerging markets, there is a growing literature on family firms. In How Family Firms Differ, the authors explore important aspects of family firms, drawing on the existing literature and their own research on these firms.

Download or read book The Lagrange Multiplier Test and Its Applications to Model Specification written by Trevor Stanley Breusch and published by . This book was released on 1978 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Family Ownership and Firm Performance written by Benjamin Maury and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper empirically examines how family-controlled firms perform in relation to firms with nonfamily controlling shareholders in Western Europe. The sample consists of 1672 non-financial firms. Active family control is associated with higher profitability compared to nonfamily firms, whereas passive family control does not affect profitability. Active family control continues to outperform nonfamily control in terms of profitability in different legal regimes. Active and passive family control is associated with higher firm valuations, but the premium is mainly due to economies with high shareholder protection. The benefits from family control occur in nonmajority held firms. These results suggest that family control lowers the agency problem between owners and managers, but gives rise to conflicts between the family and minority shareholders when shareholder protection is low and control is high.

Download or read book Family Business Governance written by John L. Ward and published by Macmillan. This book was released on 2011-01-04 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt: While every family business is unique, embracing systematic governance processes can help any family business achieve goals shared by virtually all: orderly decision-making, peaceful continuity, and the freedom to make decisions based on the highest and best purposes of both the business and the family.

Download or read book The Family Business Map written by M. Bennedsen and published by Springer. This book was released on 2014-09-29 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: Combining the expertise of two consultants and academics from East and West, this book provides an international guide for family businesses, showing how to identify and implement the best governance strategies. Packed with case studies and interviews, this is the ultimate guide for family businesses wanting to achieve long-term success.

Download or read book Family Involvement in Ownership Management and Firm Performance written by Shehabaddin Al-Dubai and published by . This book was released on 2015 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study aims to provide an empirical evidence on the moderating effect of family involvement in management (family CEO and founder CEO) on the relationship between family ownership and firm's performance. From a sample of 75 public listed companies (375 firm-year observations) in Saudi Arabia, we use a five-year interval (2007-2011) and two firm performance indicators (market to book value (MBV) and return on assets (ROA)) to test five hypotheses. The hypotheses that there is a direct impact of family ownership and founder CEO on ROA and MBV were supported respectively. The hypothetical moderating impact of family CEO and founder CEO have been partially confirmed with MBV. Overall, the findings highlight the importance of occupying CEO positions in family firms by family members, especially the founders for gaining better performance. However, the results are robust when only family firms are examined separately.

Download or read book Concentrated Corporate Ownership written by Randall K. Morck and published by University of Chicago Press. This book was released on 2007-12-01 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: Standard economic models assume that many small investors own firms. This is so in most large U.S. firms, but wealthy individuals or families generally hold controlling blocks in smaller U.S. firms and in all firms in most other countries. Given this, the lack of theoretical and empirical work on tightly held firms is surprising. What corporate governance problems arise in tightly held firms? How do these differ from corporate governance problems in widely held firms? How do control blocks arise and how are they maintained? How does concentrated ownership affect economic growth? How should we regulate tightly held firms? Drawing together leading scholars from law, economics, and finance, this volume examines the economic and legal issues of concentrated ownership and their impact on a shifting global economy.

Download or read book Managing for the Long Run written by Danny Miller and published by Harvard Business Press. This book was released on 2005 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fidelity, Hallmark, Michelin, and Wal-Mart are renowned industry powerhouses with long leadership track records. Yet these celebrated companies are united by another factor not generally equated with competitive success: They are all family-controlled businesses. While many view the hallmarks of family businesses—stable strategies, clan cultures, and unencumbered family ownership—as weaknesses, Danny Miller and Isabelle Le Breton-Miller argue that it is these very characteristics that create formidable competitive advantages for many such firms. Managing for the Long Run draws from a worldwide study of enduring, family-run organizations—including Cargill, Timken, L.L. Bean, The New York Times, and IKEA—to reveal their unconventional success strategies and how these strategies can be adopted and applied in any organization. Miller and Le Breton-Miller show how four driving passions of family-run firms—command, continuity, community, and connection—give rise to a set of practices that defy modern management thinking yet ensure a company’s long term competitive advantage. Outlining how these practices can enhance strategic efforts from operations to brand leadership to innovation, this book shows what every company must do to manage for the long run.

Download or read book Buy outs in Family Businesses written by Oliver Klöckner and published by Springer. This book was released on 2009-08-10 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: Oliver Klöckner investigates the changes resulting from buy-outs in family businesses. He contrasts the characteristics of family businesses with those of non-family businesses after a buy-out. His theoretical discussion is complemented by an in-depth analysis of 17 bought-out family businesses in Germany.

Download or read book Ethics Governance and Corporate Crime written by Roshima Said and published by Emerald Group Publishing. This book was released on 2014-06-18 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is comprised of academic work on key current issues pertaining to the areas of ethics, governance and corporate crimes. The book provides a platform for researchers to publish their work, articulate their concerns and offer critical perspectives on what they see happening around them.