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Thomas Zellweger
Title
Prof. Dr.
Last Name
Zellweger
First name
Thomas
Email
thomas.zellweger@unisg.ch
ORCID
Phone
+41 71 224 71 00
Google Scholar
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1 - 6 of 6
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PublicationThe Role of Information Asymmetry for the Choice between Family External and Internal Exit Routes(IFERA c/o College of Business & Management, 2012-06-26)Durst, SusanneIn our quantitative study we investigate the antecedents of two distinct exit routes. Building on information asymmetry theory, we discuss that the owner's inferior knowledge about the ability of potential family external (in contrast to family internal) successors renders a family internal transition more likely. However, this information asymmetry can be mitigated by activities such as owners' screening and successors' signaling efforts to unveil the successor's ability. Our data exhibits a positive effect of signaling and an inverted u-shaped effect of screening on the probability of an external succession. Socioemotional wealth, generated by long ownership duration, moderates these effects.Type: conference paper
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PublicationType: conference paper
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PublicationType: conference paper
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PublicationFinancial performance of privately held family firms(KMU Verlag HSG, 2006-09-18)The present text examines how the organizational input variable "family" and the financial output variable "return" are interrelated. This question is crucial since there are serious doubts brought forward by Schulze et al. (2003) whether family firms really exhibit the ideal precondition of low agency costs as hypothesized by Fama and Jensen (1983a and 1983b). Schulze et al. (2003) find that family firms suffer from costly agency conflicts induced by altruism between family principals (e.g. parents) and family agents (e.g. children). Hence there is a need for research that examines the question whether family influence on a firm is boosting or hampering the financial performance.Type: conference paper
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PublicationType: conference paper
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PublicationFamily Business in Switzerland: Significance and Structure( 2004-09-15)Klein, SabineType: conference paper