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Family firms and financial performance : the cost of growing

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dc.contributor.authorGonzález Ferrero, Maximilianospa
dc.contributor.authorGuzmán Vásquez, Alexanderspa
dc.contributor.authorPombo Vejarano, Carlosspa
dc.contributor.authorTrujillo Dávila , María Andreaspa
dc.contributor.orcidGonzález Ferrero, Maximiliano [0000-0002-8675-6911]
dc.contributor.orcidGuzmán Vásquez, Alexander [0000-0001-7675-048X]
dc.contributor.orcidPombo Vejarano, Carlos [0000-0001-9638-0586]
dc.contributor.orcidTrujillo Dávila, María Andrea [0000-0002-9592-7890]
dc.contributor.scopusGonzález Ferrero, Maximiliano [17434254200]
dc.contributor.scopusGuzmán Vásquez, Alexander [55207224400]
dc.contributor.scopusPombo Vejarano, Carlos [6603836065]
dc.contributor.scopusTrujillo Dávila, María Andrea [55206416700]
dc.date.accessioned2023-06-21T22:23:12Z
dc.date.available2023-06-21T22:23:12Z
dc.date.issued2012-12
dc.description.abstractenglishThis study examines the relationship between financial performance and family involvement for 523 listed and non-listed Colombian firms over 1996–2006. Using a detailed database and performing several panel data regression models, we find that family firms exhibit better financial performance on average than non-family firms when the founder is still involved in operations, although this effect decreases with firm size. With heirs in charge, there is no statistical difference in financial performance. Both direct and indirect ownership (control through pyramidal ownership structures within family business groups) affect firms' financial performance positively. However, this positive effect decreases with firm size. The results suggest that some kinds of family involvement appear to make firm growth expensive.eng
dc.description.orcidhttps://orcid.org/0000-0002-8675-6911
dc.description.orcidhttps://orcid.org/0000-0001-7675-048X
dc.description.orcidhttps://orcid.org/0000-0001-9638-0586
dc.description.orcidhttps://orcid.org/0000-0002-9592-7890
dc.description.scopushttps://www.scopus.com/authid/detail.uri?authorId=17434254200
dc.description.scopushttps://www.scopus.com/authid/detail.uri?authorId=55207224400
dc.description.scopushttps://www.scopus.com/authid/detail.uri?authorId=6603836065
dc.description.scopushttps://www.scopus.com/authid/detail.uri?authorId=55206416700
dc.identifier.doihttps://doi.org/10.1016/j.ememar.2012.09.003
dc.identifier.eissn1873-6173
dc.identifier.instnameinstname:Colegio de Estudios Superiores de Administración – CESA
dc.identifier.issn1566-0141
dc.identifier.reponamereponame:Biblioteca Digital – CESA
dc.identifier.repourlrepourl:https://repository.cesa.edu.co/
dc.identifier.urihttp://hdl.handle.net/10726/5138
dc.language.isoeng
dc.publisherElsevier BV
dc.relation.citationendpage649
dc.relation.citationissue4
dc.relation.citationstartpage626
dc.relation.citationvolume13
dc.relation.ispartofjournalEmerging Markets Review
dc.rights.accessrightsinfo:eu-repo/semantics/restrictedAccess
dc.rights.coarhttp://vocabularies.coar-repositories.org/access_rights/c_16ec/
dc.rights.localAcceso Restringido
dc.subjectFamily businesses
dc.subjectFamily control
dc.subjectFinancial performance
dc.subjectColombia
dc.titleFamily firms and financial performance : the cost of growingeng
dc.typearticle
dc.type.coarhttp://purl.org/coar/resource_type/c_2df8fbb1
dc.type.coarversionhttp://purl.org/coar/version/c_71e4c1898caa6e32
dc.type.driverinfo:eu-repo/semantics/article
dc.type.redcolhttp://purl.org/redcol/resource_type/ART
dc.type.versioninfo:eu-repo/semantics/acceptedVersion

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