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Founding family leadership and industry profitability

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  • Trond Randøy
  • Clay Dibrell
  • Justin Craig

Abstract

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  • Trond Randøy & Clay Dibrell & Justin Craig, 2009. "Founding family leadership and industry profitability," Small Business Economics, Springer, vol. 32(4), pages 397-407, April.
    • Handle: RePEc:kap:sbusec:v:32:y:2009:i:4:p:397-407
    DOI: 10.1007/s11187-008-9099-9
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    References listed on IDEAS

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    1. Dittmar, Amy & Mahrt-Smith, Jan & Servaes, Henri, 2003. "International Corporate Governance and Corporate Cash Holdings," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 38(1), pages 111-133, March.
    2. Michael Lubatkin & William S. Schulze & N Dino Richard, 2003. "Exploring the agency consequences of ownership dispersion among the directors of private family firms," Post-Print hal-02311676, HAL.
    3. Narayanan Jayaraman & Ajay Khorana & Edward Nelling & Jeffrey Covin, 2000. "CEO founder status and firm financial performance," Strategic Management Journal, Wiley Blackwell, vol. 21(12), pages 1215-1224, December.
    4. Shleifer, Andrei & Vishny, Robert W, 1997. "A Survey of Corporate Governance," Journal of Finance, American Finance Association, vol. 52(2), pages 737-783, June.
    5. Lloyd P. Steier & James J. Chrisman & Jess H. Chua, 2004. "Entrepreneurial Management and Governance in Family Firms: An Introduction," Entrepreneurship Theory and Practice, , vol. 28(4), pages 295-303, July.
    6. Ravasi, Davide & Marchisio, Gaia, 2003. "Going Public and the Enrichment of a Supportive Network," Small Business Economics, Springer, vol. 21(4), pages 381-395, December.
    7. Baysinger, Barry D & Butler, Henry N, 1985. "Corporate Governance and the Board of Directors: Performance Effects of Changes in Board Composition," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 1(1), pages 101-124, Spring.
    8. Collins, Norman R & Preston, Lee E, 1969. "Price-Cost Margins and Industry Structure," The Review of Economics and Statistics, MIT Press, vol. 51(3), pages 271-286, August.
    9. Michael Lubatkin & William S. Schulze & Richard N. Dino, 2003. "Exploring the agency consequences of ownership dispersion among the directors of private family firms," Post-Print hal-02276698, HAL.
    10. Rafael La Porta & Florencio Lopez‐De‐Silanes & Andrei Shleifer, 1999. "Corporate Ownership Around the World," Journal of Finance, American Finance Association, vol. 54(2), pages 471-517, April.
    11. Demsetz, Harold & Lehn, Kenneth, 1985. "The Structure of Corporate Ownership: Causes and Consequences," Journal of Political Economy, University of Chicago Press, vol. 93(6), pages 1155-1177, December.
    12. Colin Mayer, 1997. "Comment on ‘Corporate Restructuring in Response to Performance Decline: Impact of Ownership, Governance and Lenders’," Review of Finance, European Finance Association, vol. 1(2), pages 235-237.
    13. Smith, Brian F. & Amoako-Adu, Ben, 1999. "Management succession and financial performance of family controlled firms," Journal of Corporate Finance, Elsevier, vol. 5(4), pages 341-368, December.
    14. Morck, Randall K. (ed.), 2000. "Concentrated Corporate Ownership," National Bureau of Economic Research Books, University of Chicago Press, edition 1, number 9780226536781.
    15. Roberto Barontini & Lorenzo Caprio, 2006. "The Effect of Family Control on Firm Value and Performance: Evidence from Continental Europe," European Financial Management, European Financial Management Association, vol. 12(5), pages 689-723, November.
    16. Conyon, M. & Machin, S., 1991. "Market structure and the empirical specification of profit margins," Economics Letters, Elsevier, vol. 35(2), pages 227-231, February.
    17. Stijn Claessens & Simeon Djankov & Joseph P. H. Fan & Larry H. P. Lang, 2002. "Disentangling the Incentive and Entrenchment Effects of Large Shareholdings," Journal of Finance, American Finance Association, vol. 57(6), pages 2741-2771, December.
    18. Fama, Eugene F & Jensen, Michael C, 1983. "Separation of Ownership and Control," Journal of Law and Economics, University of Chicago Press, vol. 26(2), pages 301-325, June.
    19. Oliver D. Hart, 1983. "The Market Mechanism as an Incentive Scheme," Bell Journal of Economics, The RAND Corporation, vol. 14(2), pages 366-382, Autumn.
    20. Steen Thomsen & Torben Pedersen, 2000. "Ownership structure and economic performance in the largest european companies," Strategic Management Journal, Wiley Blackwell, vol. 21(6), pages 689-705, June.
    21. Randall K. Morck, 2000. "Concentrated Corporate Ownership," NBER Books, National Bureau of Economic Research, Inc, number morc00-1.
    22. Robin Mackie, 2001. "Family Ownership and Business Survival: Kirkcaldy, 1870-1970," Business History, Taylor & Francis Journals, vol. 43(3), pages 1-32.
    23. Mike Burkart & Denis Gromb & Fausto Panunzi, 1997. "Large Shareholders, Monitoring, and the Value of the Firm," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 112(3), pages 693-728.
    24. repec:bla:jfinan:v:58:y:2003:i:5:p:2167-2202 is not listed on IDEAS
    25. ANITA M. McGAHAN & MICHAEL E. PORTER, 1997. "How Much Does Industry Matter, Really?," Strategic Management Journal, Wiley Blackwell, vol. 18(S1), pages 15-30, July.
    26. Richard G.P. McMahon, 2004. "Equity Agency Costs Amongst Manufacturing SMEs," Small Business Economics, Springer, vol. 22(2), pages 121-140, March.
    27. Randall Morck & Masao Nakamura, 1999. "Banks and Corporate Control in Japan," Journal of Finance, American Finance Association, vol. 54(1), pages 319-339, February.
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    Citations

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    Cited by:

    1. Richard Gentry & Clay Dibrell & Jaemin Kim, 2016. "Long–Term Orientation in Publicly Traded Family Businesses: Evidence of a Dominant Logic," Entrepreneurship Theory and Practice, , vol. 40(4), pages 733-757, July.
    2. Basco, Rodrigo, 2013. "The family's effect on family firm performance: A model testing the demographic and essence approaches," Journal of Family Business Strategy, Elsevier, vol. 4(1), pages 42-66.
    3. Andrea Calabrò & Rosalia Santulli & Mariateresa Torchia & Carmen Gallucci, 2021. "Entrepreneurial Orientation and Family Firm Performance: The Moderating Role of TMT Identity-Based and Knowledge-Based Faultlines," Entrepreneurship Theory and Practice, , vol. 45(4), pages 838-866, July.
    4. Garcia-Castro, Roberto & Aguilera, Ruth V., 2014. "Family involvement in business and financial performance: A set-theoretic cross-national inquiry," Journal of Family Business Strategy, Elsevier, vol. 5(1), pages 85-96.
    5. Fries, Alexander & Kammerlander, Nadine & Leitterstorf, Max, 2021. "Leadership Styles and Leadership Behaviors in Family Firms: A Systematic Literature Review," Journal of Family Business Strategy, Elsevier, vol. 12(1).
    6. Anaïs Hamelin, 2013. "Influence of family ownership on small business growth. Evidence from French SMEs," Small Business Economics, Springer, vol. 41(3), pages 563-579, October.
    7. Barros, Ismael & Hernangómez, Juan & Martin-Cruz, Natalia, 2016. "A theoretical model of strategic management of family firms. A dynamic capabilities approach," Journal of Family Business Strategy, Elsevier, vol. 7(3), pages 149-159.

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    More about this item

    Keywords

    Founding family firms; Corporate governance; Industry profit margins; Industry competition; Sweden; L26;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship

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