Financial performance of privately held family firms
ISBN
978-3-906541-24-2
Type
conference paper
Date Issued
2006-09-18
Author(s)
Editor(s)
Abstract
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.
Funding(s)
Language
English
Keywords
family business
performance
HSG Classification
contribution to scientific community
Refereed
No
Book title
Understanding the Regulatory Climate for Entrepreneurship and SMEs
Publisher
KMU Verlag HSG
Publisher place
St. Gallen
Event Title
Rencontres de St.Gall 2006
Event Location
Wildhaus
Event Date
18.-21.09.2006
Subject(s)
Eprints ID
31001
File(s)![Thumbnail Image]()
Name
Financial Performance of privately held firms.pdf
Size
247.7 KB
Format
Adobe PDF
Checksum (MD5)
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