Effects of family ownership and family management on the performance of entrepreneurial firms
Date
2023
Authors
Reddy, K.
Wellalage, N.H.
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Journal article
Citation
Research in International Business and Finance, 2023; 65(101977):1-14
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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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Data source: Supplementary data, Contact researchers, https://doi.org/10.1016/j.ribaf.2023.101977
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Copyright 2023 Elsevier
Access Condition Notes: Accepted manuscript available after 1 October 2026