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Family business and firm performance: evidence from the Mexican Stock Exchange

Author

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  • Tomás Ignacio Espinoza Aguiló
  • Nicolás Felipe Espinoza Aguiló

Abstract

This study aims to examine whether there are differences in the performance of family and non-family firms after taking into account the peculiarities of the Mexican corporate system, based on the study of Anderson and Reeb (2003). We propose an analysis that allows us to conduct comprehensive study and comparison between companies with different ownership structures (family vs. non-family firms), distinguished by developed patterns of governance with heterogeneous characteristics. We also analyse the effects on performance depending on the degree of ownership concentration. Moreover, we find evidence of a different relationship between governance mechanisms and performance depending on the type of company being family or non-family. Our results are consistent with Anderson and Reeb (2003).

Suggested Citation

  • Tomás Ignacio Espinoza Aguiló & Nicolás Felipe Espinoza Aguiló, 2012. "Family business and firm performance: evidence from the Mexican Stock Exchange," International Journal of Management Practice, Inderscience Enterprises Ltd, vol. 5(4), pages 304-325.
    • Handle: RePEc:ids:ijmpra:v:5:y:2012:i:4:p:304-325
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    Cited by:

    1. Muhammad Arsalan Hashmi & Abdullah & Rayenda Khresna Brahmana, 2022. "Family monitoring and the adverse consequences of political connections: does it vary over family generations?," Management Research Review, Emerald Group Publishing Limited, vol. 46(6), pages 832-851, September.
    2. Cristina Aragón-Amonarriz & Agustín Mateo Arredondo & Cristina Iturrioz-Landart, 2019. "How Can Responsible Family Ownership be Sustained Across Generations? A Family Social Capital Approach," Journal of Business Ethics, Springer, vol. 159(1), pages 161-185, September.
    3. Rateb Mohammad Alqatamin, 2018. "Do Family-Owned Companies Achieve High or Low Performance? Evidence from Jordan," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 8(1), pages 215-223, January.

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