How Does Family Management Affect Firm Performance : Evidence from Taiwanese Firms

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dc.contributor.author Shyu, Jonchi
dc.contributor.author Shen, Yu-Hung
dc.date.accessioned 2012-02-20T07:44:46Z
dc.date.available 2012-02-20T07:44:46Z
dc.date.issued 2011
dc.identifier.citation Jonchi Shyu & Yu-Hung Shen (2011. How Does Family Management Affect Firm Performance : Evidence from Taiwanese Firms. Electronic Journal of Family Business Studies (EJFBS), Vol. 5, Issue 1-2, p. 74-95.
dc.identifier.issn 1796-9360
dc.identifier.uri http://hdl.handle.net/123456789/37411
dc.description.abstract This study used the panel data of 465 Taiwanese listed companies by applying both accounting and market-value indicators to an examination of family management’s influence on firm performances. The empirical results show that family firms in Tai-wan have performed better than non-family firms. The combination of equity owner-ship and management right has helped family firms reduce agency cost and enhance firm value in the long run. As for family management, the empirical results suggest that if the founder serves as the chairman and CEO at the same time, it is most benefi-cial to the firm’s performance. When the position of CEO is passed to a hired manag-er, it may enhance firm performance in the short-run. On the other hand, when the po-sition is passed down to a descendant, it may be conducive to firm value in the long-run. en
dc.language.iso eng
dc.publisher Jyväskylä University School of Business and Economics
dc.relation.ispartofseries Electronic Journal of Family Business Studies (EJFBS)
dc.relation.uri https://www.jyu.fi/jsbe/en/entrepreneurship/ejfbs
dc.rights The copyright of the publication and published articles belongs to the EJFBS and its editors. Readers have got the right to download, save and print the article for study, but not for distribution or reproduction.
dc.title How Does Family Management Affect Firm Performance : Evidence from Taiwanese Firms fi
dc.identifier.urn URN:NBN:fi:jyu-201202201218
dc.type.uri http://purl.org/eprint/type/JournalArticle
dc.description.version Published version
eprint.status http://purl.org/eprint/type/status/PeerReviewed

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