Effects of family ownership and family management on the performance of entrepreneurial firms
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Other Title
Authors
Reddy, Krishna
Wellalage, Nirosha Hewa
Wellalage, Nirosha Hewa
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Grantor
Date
2023
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Type
Journal Article
Ngā Upoko Tukutuku (Māori subject headings)
Keyword
Entrepreneurial firms
Family ownership
Family management
Agency theory
Stewardship theory
Family ownership
Family management
Agency theory
Stewardship theory
ANZSRC Field of Research Code (2020)
Citation
Reddy, K., & Wellalage, N. H. (2023). Effects of family ownership and family management on the performance of entrepreneurial firms. Research in International Business and Finance, 65 (2023, 101977), https://doi.org/10.1016/j.ribaf.2023.101977
Abstract
Extending past research, this paper proposes that the quadratic inverse-U relationship between family ownership and the performance of entrepreneurial firms when moderated by the presence of family management and external blockholding. Specifically, it proposes that both factors exacerbate the decline in performance when the proportion of family ownership in entrepreneurial firms remains high. The proposed hypotheses are tested on ten years of panel data from a sample of European firms. Analysis of data supports the hypotheses. Implications for the theory and practice of entrepreneurial firms are discussed.
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ScienceDirect
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DOI
https://doi.org/10.1016/j.ribaf.2023.101977
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© 2023 Elsevier B.V. All rights reserved.