How Does Family Management Affect Firm Performance : Evidence from Taiwanese Firms
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.
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.
PublisherJyväskylä University School of Business and Economics
MetadataShow full item record
Showing items with similar title or keywords.
Differences in children's school success and family backgrounds : a comparative case study of pupils' performance in entrance examination in Ibadan, Nigeria Bamgbade, Emmanuel Olusanjo (2013)This study reviewed the socio-economic backgrounds of pupils from various family structures (Monogamous, polygamous, single-parent and orphan children) against their academic performances in Ibadan North-East municipality ...
Puskunigyte, Emilija (2020)Research concerning music therapy in the field of addiction treatment is continuously growing. However, such work focuses mostly on the effectiveness of music therapy in helping the addict to recover, rarely investigating ...
Vaara, Jani; Oksanen, Hermanni; Kyröläinen, Heikki; Virmavirta, Mikko; Koski, Harri; Finni Juutinen, Taija (Frontiers Research Foundation, 2018)The effect of 60-h sleep deprivation (SD) on physical performance and motor control was studied. Twenty cadets were measured for aerobic performance (VO2) before and immediately after the SD period. Maximal strength and ...
Göpfert, Caroline; Lindinger, Stefan J.; Ohtonen, Olli; Rapp, Walter; Müller, Erich; Linnamo, Vesa (Wiley, 2018)Arm swing has been shown to lead to greater maximal speed and movement economy in cross -country skiing. The current study aimed to investigate how arm swing alters skiing mechanics and contributes to performance and ...
Ilmakunnas, Pekka; Maliranta, Mika (Springer New York LLC, 2016)We develop a method for decomposing firm performance to impacts coming from the inflows and outflows of workers and apply it to study whether older workers are costly to firms. Our estimation equations are derived from a ...