Supervivencia y diversificación de los grupos familiares y no familiares encabezados por una empresa española cotizada en el período 1990-2005

This paper analyses the evolution and survival of a collective of family and non-family firms that were listed in the shared market in 1990 during 1990-2005; later we studied the degree of diversification for family and non-family pyramidal groups present in survivor listed companies, where a group is represented by all companies under the effective control of the main shareholder (family or non-family) of listed company. The ultimate purpose of this study is to verify the existence of differences, first, in stock markets permanence rates and in survival rates for family and non-family firms, and secondly, differences in the degree of diversification for family and non-family groups. Empirical analysis shows an increase in the presence of families in stock markets, a higher rate of survival for family firms and few minor differences in the degree of diversification among family and non-family groups (excluding “Contruction”, that is atypical in its evolution).