Search
Feedback
About UniCat 
Help
News
| Listing 1 - 2 of 2 |
Sort by
|
Book
Year: 2019 Publisher: Washington, D.C. : The World Bank,
Abstract | Keywords | Export | Availability | Bookmark
Loading...Choose an application
- Reference Manager
- EndNote
- RefWorks (Direct export to RefWorks)
This paper offers new evidence on the relationship between contractual institutions, family management, and aggregate performance. The study creates a new firm-level database on management and ownership structures spanning 134 regions in 11 European countries. To guide the empirical analysis, it develops a model of industry equilibrium in which heterogeneous firms decide between family and professional management when the latter are subject to contracting frictions. The paper tests the model's predictions using regional variation in trust within countries. Consistent with the model, the finding show that there is sorting of firms across management modes, in which smaller firms and those in regions with worse contracting environments are more likely to be family managed. These firms are on average 25 percent less productive than professionally managed firms, and moving from the country with the least reliable contracting environment to the most increases total factor productivity by 21.6 percent. Family management rather than ownership drives these results.
Family Ownership --- Firm Performance --- Organizational Management --- Private Sector Development --- Productivity
Book
ISBN: 363190259X 3631902603 Year: 2023 Publisher: Frankfurt a.M. : Peter Lang GmbH, Internationaler Verlag der Wissenschaften,
Abstract | Keywords | Export | Availability | Bookmark
Loading...Choose an application
- Reference Manager
- EndNote
- RefWorks (Direct export to RefWorks)
This dissertation investigates the influence of large family shareholders on financial decisions and the performance of listed firms in Germany. It documents the effect of family ownership and the management involvement of family shareholders on working capital management, earnings management as well as the stock market performance of family firms.
abnormal returns --- Behavior --- Blockholders --- blockholders --- board composition --- corporate governance --- earnings management --- Fabio --- Family --- family firms --- Family management --- family ownership --- Financial --- financial crisis --- financial reporting --- Firms --- Franzoi --- Influence --- Influence of family board involvement --- Listed --- Mark --- Mietzner --- Shareholder activism --- Stock market performance of family firms --- stock market returns --- working capital
| Listing 1 - 2 of 2 |
Sort by
|