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Internationalisation of publicly traded family firms: a transaction cost theory perspective and longitudinal analysis

Author

Listed:
  • Esra Memili
  • Kaustav Misra
  • James J. Chrisman
  • Dianne H.B. Welsh

Abstract

There has been a prominent stream of research investigating internationalisation of organisations. While the importance of transaction costs in the governance decisions of firms has been well established in the literature, transaction cost theory (TCT) in family firms remains underutilised. We examine the impact of family governance (i.e. family ownership and involvement in management and the board of directors) on internationalisation within the domain of TCT using 386 S%P 500 firms. Our findings indicate an inverted U-shaped relationship between family ownership and internationalisation and a U-shaped relationship between family's involvement in management and the board and internationalisation. This illustrates the interesting differential impact of the components of family involvement on internationalisation. We conclude by discussing future research and implications for practice.

Suggested Citation

  • Esra Memili & Kaustav Misra & James J. Chrisman & Dianne H.B. Welsh, 2017. "Internationalisation of publicly traded family firms: a transaction cost theory perspective and longitudinal analysis," International Journal of Management and Enterprise Development, Inderscience Enterprises Ltd, vol. 16(1/2), pages 80-108.
    • Handle: RePEc:ids:ijmede:v:16:y:2017:i:1/2:p:80-108
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    Cited by:

    1. Acquah, Innocent Senyo Kwasi & Naude, Micheline Juliana & Sendra-García, Javier, 2021. "Supply chain collaboration in the petroleum sector of an emerging economy: Comparing results from symmetrical and asymmetrical approaches," Technological Forecasting and Social Change, Elsevier, vol. 166(C).
    2. Maria Cristina Sestu & Antonio Majocchi, 2020. "Family Firms and the Choice Between Wholly Owned Subsidiaries and Joint Ventures: A Transaction Costs Perspective," Entrepreneurship Theory and Practice, , vol. 44(2), pages 211-232, March.
    3. Wu, Bao & Monfort, Abel & Jin, Chenfei & Shen, Xinyan, 2022. "Substantial response or impression management? Compliance strategies for sustainable development responsibility in family firms," Technological Forecasting and Social Change, Elsevier, vol. 174(C).

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