Founding Family Ownership Firm Performance And Crisis Resistance

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Founding-Family Ownership, Firm Performance and Crisis Resistance

Author : Philip Quitterer
Publisher : GRIN Verlag
ISBN 13 : 3346339602
Total Pages : 37 pages
Book Rating : 4.3/5 (463 download)

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Book Synopsis Founding-Family Ownership, Firm Performance and Crisis Resistance by : Philip Quitterer

Download or read book Founding-Family Ownership, Firm Performance and Crisis Resistance written by Philip Quitterer and published by GRIN Verlag. This book was released on 2021-02-03 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2019 in the subject Business economics - Review of Business Studies, grade: 1,3, University of Mannheim, language: English, abstract: To further complete the currently fragmented findings of family firm research, this empirical thesis analyses the performance of large founding-family firms listed in the USA. Thus, this research builds up upon the studies of Anderson and Reeb (2003), Cannella et al. (2015), Miller et al. (2007; 2011), and Villalonga and Amit (2006). For the analysis, a random sample of S&P1500 firms in the period 1996 – 2018 was generated. To obtain information on family firm variables such as ownership and managerial involvement, a manual research was conducted for all 300 firms in the sample using annual reports and proxy statements. The impact of several aspects of founding-family involvement was analysed in a panel data analysis that employed the performance measures Tobin’s Q and Return on Assets as dependent variables. Controlling for industry and firm characteristics, the results did not back up the postulated hypotheses. The findings could not support an eventual outperformance by founding-family firms and challenged the results of past studies through contrary findings on the influence of firm founders and their descendants. The results of the analysis of Tobin’s Q and Return on Assets differ significantly and raise the question to which extent these differing results can be attributed to the stock market’s view on founding-family firms.

Founding-family Ownership and Firm Performance

Author : Jonathan C. Irwin
Publisher :
ISBN 13 :
Total Pages : 49 pages
Book Rating : 4.:/5 (795 download)

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Book Synopsis Founding-family Ownership and Firm Performance by : Jonathan C. Irwin

Download or read book Founding-family Ownership and Firm Performance written by Jonathan C. Irwin and published by . This book was released on 2009 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Performance and Behavior of Family Firms

Author : Esra Memili
Publisher : MDPI
ISBN 13 : 3038427810
Total Pages : 174 pages
Book Rating : 4.0/5 (384 download)

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Book Synopsis Performance and Behavior of Family Firms by : Esra Memili

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

How Family Firms Differ

Author : S. Bhaumik
Publisher : Springer
ISBN 13 : 1137473584
Total Pages : 132 pages
Book Rating : 4.1/5 (374 download)

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Book Synopsis How Family Firms Differ by : S. Bhaumik

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.

Influence of Founding-Family Ownership and Managerial Regime on Firm Performance

Author : Oskar Kowalewski
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Influence of Founding-Family Ownership and Managerial Regime on Firm Performance by : Oskar Kowalewski

Download or read book Influence of Founding-Family Ownership and Managerial Regime on Firm Performance written by Oskar Kowalewski and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the link between the founding family ownership and firm performance. We also study the influence of family management on financial performance of the public firms. We test our hypotheses using half-year database of 272 companies from Warsaw Stock Exchange (WSE) covering the period 1996-2004. The results indicate that family firms, CEOs and board chairmen are related insignificantly to the financial performance of the companies.Additional analysis reveals how independent variables such as size, growth, leverage and liquidity influence the financial measures of the sub-samples of firms.

Family Ownership and Firm Performance

Author : Kelvin Wong
Publisher :
ISBN 13 :
Total Pages : 352 pages
Book Rating : 4.:/5 (191 download)

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Book Synopsis Family Ownership and Firm Performance by : Kelvin Wong

Download or read book Family Ownership and Firm Performance written by Kelvin Wong and published by . This book was released on 2007 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Family Ownership and Firm Performance

Author : Fatma Karakoc
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (741 download)

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Book Synopsis Family Ownership and Firm Performance by : Fatma Karakoc

Download or read book Family Ownership and Firm Performance written by Fatma Karakoc and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Diese Arbeit untersucht empirisch die Beziehung zwischen Gründer-Familienbesitz und Firmenleistung, gemessen am Bilanz- respektive Marktwert, für Börsenkotierte Unternehmen in der Schweiz. Zunächst analysiert sie im Detail die Agency Probleme und die von der Literatur dafür vorgeschlagenen Lösungen wie beispielsweise Monitoring. Danach untersucht sie die existierenden Literatur im Hinblick auf die Existenz von Agency Problemen und die bessere Leistung von Familienunternehmen als besondere Art von Blockholdern. Die Ergebnisse der univariaten Analysen sowie der Regressionsanalysen zeigen auf, dass Familienunternehmen, ausgestattet mit den gleichen Ressourcen, bessere Leistung als andere Arten von Blockholdern erbringen, insbesondere wenn der Gründer als CEO oder Verwaltungsrats-Vorsitzender aktiv ist.

When Business is in the Blood

Author : Saim Kashmiri
Publisher :
ISBN 13 :
Total Pages : 264 pages
Book Rating : 4.:/5 (798 download)

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Book Synopsis When Business is in the Blood by : Saim Kashmiri

Download or read book When Business is in the Blood written by Saim Kashmiri and published by . This book was released on 2012 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Family firms play a significant role in the U.S. economy, making up about 35 percent of S & P 500 or Fortune 500 companies and contributing about 65 percent to the U.S. GDP. This research explores differences in strategic behavior and firm performance between family firms and non-family firms, and further explores whether family firms such as Dell Inc. that use their founding family's name as part of their firm name (termed family-named firms, or FN firms) behave and perform any differently versus family firms such as Gap Inc. whose firm name does not include their family's name (termed non-family-named firms, or NFN firms). The first study which is based on a multi-industry sample of 130 publicly listed U.S. family firms over a five-year period (2002-2006), reveals that compared to NFN firms, FN firms have significantly higher levels of corporate citizenship and representation of their customers' voice (i.e., presence of a chief marketing officer) in the top management team. FN firms also have a higher strategic emphasis (i.e., a greater emphasis on value appropriation relative to value creation) compared to NFN firms. Furthermore, FN firms perform better (i.e., have a higher ROA) than NFN firms, and their superior performance is partially mediated by their higher corporate citizenship levels and strategic emphasis. In the second study -- an event study of 1294 product introduction announcements of 107 publicly listed U.S. family firms from 2005-2007 -- I find that relative to NFN firms, FN firms are rewarded more by the stock market for introducing new products. Superior returns to FN firms' new product introductions are partially mediated by these firms' history of trustworthy product-related behavior: FN firms, particularly those with corporate branding, and those wherein a founding family member holds the CEO or Chairman position, are more likely to exhibit a history of avoiding such product-related controversies as product safety issues, and deceptive advertising. The third study explores differences in strategic behavior and firm performance between family firms and non-family firms in the context of 7 U.S. economic recessions between the years 1970 and 2008. Findings based on a sample of 428 U.S. publicly listed firms reveal that family firms consistently outperform non-family firms during economic recessions. This superior performance is partially driven by family firms' unique strategic behavior: during recessions, family firms maintain higher levels of advertising intensity, exhibit lower financial leverage, and get involved in fewer social and employee-related unethical actions than non-family firms. The three studies taken together have important implications for family firm, branding, CSR, firm valuation, and innovation-related theory and practice. I highlight these implications in my dissertation.

Transgenerational Entrepreneurship

Author : M. Nordqvist
Publisher : Edward Elgar Publishing
ISBN 13 : 1849805466
Total Pages : 237 pages
Book Rating : 4.8/5 (498 download)

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Book Synopsis Transgenerational Entrepreneurship by : M. Nordqvist

Download or read book Transgenerational Entrepreneurship written by M. Nordqvist and published by Edward Elgar Publishing. This book was released on 2010-01-01 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introducing a new concept in family businesses Transgenerational Entrepreneurship addresses how these businesses achieve growth and longevity through entrepreneurial activities. It focuses on the resources, capabilities and mindsets that families develop and draw upon in order to be entrepreneurial across generations, and presents findings from an international research collaboration between family business researchers and practitioners. In addition to a comprehensive conceptual chapter, the editors include a unique set of empirical case-based research papers that investigates transgenerational entrepreneurship in different European contexts. They bring together and integrate frontier research on entrepreneurship and family business, as well as provide a basis for future research. Academics, teachers and students in business and management, entrepreneurship and family business will find this path-breaking book of value, as will libraries, policy makers and consultants.

Handbook of Research on the Strategic Management of Family Businesses

Author : Palma-Ruiz, Jesús Manuel
Publisher : IGI Global
ISBN 13 : 1799822710
Total Pages : 539 pages
Book Rating : 4.7/5 (998 download)

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Book Synopsis Handbook of Research on the Strategic Management of Family Businesses by : Palma-Ruiz, Jesús Manuel

Download or read book Handbook of Research on the Strategic Management of Family Businesses written by Palma-Ruiz, Jesús Manuel and published by IGI Global. This book was released on 2020-01-10 with total page 539 pages. Available in PDF, EPUB and Kindle. Book excerpt: The literature on family business has developed significantly over the last years. However, efforts remain to summarize and systematize the main aspects that affect the behavior of this type of company. In this regard, the topic of strategic management has been developed. In this sense, it is especially important to recognize how the family decisively influences the behavior of the company and also to identify how the existence of the company affects family dynamics. Those who manage family businesses, whether family or not, must reconcile both perspectives (business and family) in the definition of strategic objectives, allowing sustainability and continuity in this type of organization. The Handbook of Research on the Strategic Management of Family Businesses provides emerging research that covers how strategic management in the family business has been developed and identifies the objectives that sustain this strategic behavior, the main areas of analysis (family and business), the definition of strategies, and their implementation. Also, the authors of this book review the different scenarios for family firms and propose strategies to tackle the challenges and seize the possibilities to grow in a competitive and dynamic environment. Featuring coverage on a broad range of topics such as human capital, organizational leadership, and knowledge creation, this book is ideally designed for family firms, managers, advisors, consultants, policymakers, business professionals, executives, entrepreneurs, researchers, academicians, and students.

Financing Transitions

Author : François M. de Visscher
Publisher : Macmillan
ISBN 13 : 0230116078
Total Pages : 126 pages
Book Rating : 4.2/5 (31 download)

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Book Synopsis Financing Transitions by : François M. de Visscher

Download or read book Financing Transitions written by François M. de Visscher and published by Macmillan. This book was released on 2011-01-04 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt: If a family-owned company is to endure and provide the maximum potential opportunity for future generations, it must plan for provision of both adequate shareholder liquidity and sufficient business capital. Many believe their options are limited: restrict money available to the family; sell the business; or go public. Rather than allowing financial pressures to destroy the family business, careful planning and sophisticated use of the growing collection of financial techniques can help the family retain business control and make wise choices among many available alternatives. Financing Transitions is a guide to * anticipating and managing capital and liquidity needs * understanding how the "Family Effect" can be a family business' greatest asset--or its greatest threat * recognizing how predictable family business transitions can erupt into family crises * keeping patient capital from becoming impatient; * controlling the family business's cost of capital; and much more... Financing Transitions: gives business owners the financial insight and understanding needed to provide future generations with the fullest possible opportunity to enjoy the unique benefits of business ownership.

The Financial Crisis Inquiry Report

Author : Financial Crisis Inquiry Commission
Publisher : Cosimo, Inc.
ISBN 13 : 1616405414
Total Pages : 692 pages
Book Rating : 4.6/5 (164 download)

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Book Synopsis The Financial Crisis Inquiry Report by : Financial Crisis Inquiry Commission

Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.

CEO Governance and Shareholder Returns

Author : Lex Donaldson
Publisher :
ISBN 13 : 9781862740747
Total Pages : 25 pages
Book Rating : 4.7/5 (47 download)

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Book Synopsis CEO Governance and Shareholder Returns by : Lex Donaldson

Download or read book CEO Governance and Shareholder Returns written by Lex Donaldson and published by . This book was released on 1990 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Landscape of Family Business

Author : Ritch L. Sorenson
Publisher : Edward Elgar Publishing
ISBN 13 : 1782547541
Total Pages : 255 pages
Book Rating : 4.7/5 (825 download)

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Book Synopsis The Landscape of Family Business by : Ritch L. Sorenson

Download or read book The Landscape of Family Business written by Ritch L. Sorenson and published by Edward Elgar Publishing. This book was released on 2013-09-30 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt: •The editors should be commended for developing a Map of the Landscape of Family Business Outcomes. It gives future research direction to the discipline considering both short-term profitability and long-term sustainability. It considers conventional c

Entrepreneurial Family Businesses

Author : Veland Ramadani
Publisher : Springer Nature
ISBN 13 : 3030477789
Total Pages : 219 pages
Book Rating : 4.0/5 (34 download)

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Book Synopsis Entrepreneurial Family Businesses by : Veland Ramadani

Download or read book Entrepreneurial Family Businesses written by Veland Ramadani and published by Springer Nature. This book was released on 2020-07-09 with total page 219 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an extensive overview of family business-related topics such as context and uniqueness, lifecycle and ownership configurations, conflict management, corporate governance, succession challenges, internationalization, innovation, and socioemotional wealth. Each chapter features clear learning objectives, key concepts and terminology, and dedicated case studies to demonstrate the main messages. The book not only considers the day-to-day dynamics in family businesses, but also places substantial emphasis on the entrepreneurial skills needed for these businesses to survive and thrive, today and tomorrow. In addition, it elaborates and discusses a number of best practice examples, which offer valuable guidance not only for scholars, but also for students who wish to study these challenges.

Generation to Generation

Author : Kelin E. Gersick
Publisher : Harvard Business Press
ISBN 13 : 087584555X
Total Pages : 316 pages
Book Rating : 4.8/5 (758 download)

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Book Synopsis Generation to Generation by : Kelin E. Gersick

Download or read book Generation to Generation written by Kelin E. Gersick and published by Harvard Business Press. This book was released on 1997 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Generation to Generation will help managers understand the special dynamics & challenges that family businesses face as they move through their life cycles. It explains how to handle succession, & the role of non-family professionals.

Corporate Payout Policy

Author : Harry DeAngelo
Publisher : Now Publishers Inc
ISBN 13 : 1601982046
Total Pages : 215 pages
Book Rating : 4.6/5 (19 download)

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Book Synopsis Corporate Payout Policy by : Harry DeAngelo

Download or read book Corporate Payout Policy written by Harry DeAngelo and published by Now Publishers Inc. This book was released on 2009 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate Payout Policy synthesizes the academic research on payout policy and explains "how much, when, and how". That is (i) the overall value of payouts over the life of the enterprise, (ii) the time profile of a firm's payouts across periods, and (iii) the form of those payouts. The authors conclude that today's theory does a good job of explaining the general features of corporate payout policies, but some important gaps remain. So while our emphasis is to clarify "what we know" about payout policy, the authors also identify a number of interesting unresolved questions for future research. Corporate Payout Policy discusses potential influences on corporate payout policy including managerial use of payouts to signal future earnings to outside investors, individuals' behavioral biases that lead to sentiment-based demands for distributions, the desire of large block stockholders to maintain corporate control, and personal tax incentives to defer payouts. The authors highlight four important "carry-away" points: the literature's focus on whether repurchases will (or should) drive out dividends is misplaced because it implicitly assumes that a single payout vehicle is optimal; extant empirical evidence is strongly incompatible with the notion that the primary purpose of dividends is to signal managers' views of future earnings to outside investors; over-confidence on the part of managers is potentially a first-order determinant of payout policy because it induces them to over-retain resources to invest in dubious projects and so behavioral biases may, in fact, turn out to be more important than agency costs in explaining why investors pressure firms to accelerate payouts; the influence of controlling stockholders on payout policy --- particularly in non-U.S. firms, where controlling stockholders are common --- is a promising area for future research. Corporate Payout Policy is required reading for both researchers and practitioners interested in understanding this central topic in corporate finance and governance.