Multiple Blockholder Structures and Family Firm Performance

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Abstract

This study examines how multiple blockholder structures affect family firm performance. Building on arguments from both principal–principal agency and familiness perspectives, we suggest that asymmetrical distribution of voting power among family and nonfamily blockholders hurts firm performance. Further, we suggest that the larger the number of blockholder types, the stronger the negative effect of voting-power asymmetry among family and nonfamily blockholders on firm performance. We provide empirical support for our hypotheses using a longitudinal sample of 413 French family firms over the 1992–2012 period.

Detaljer

Författare
Enheter & grupper
Externa organisationer
  • Copenhagen Business School
  • EMLYON Business School
Forskningsområden

Ämnesklassifikation (UKÄ) – OBLIGATORISK

  • Företagsekonomi

Nyckelord

Originalspråkengelska
Sidor (från-till)231-251
Antal sidor21
TidskriftEntrepreneurship Theory and Practice
Volym42
Utgivningsnummer2
StatusPublished - 2018
PublikationskategoriForskning
Peer review utfördJa