How important is family involvement for small companies’ growth?
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Artículo / Artikulua
Versión aceptada / Onetsi den bertsioa
Purpose: Our paper seeks to further understand how family involvement in management influences firm growth. Design/methodology/approach: Using a sample of small high-tech firms, we classify three different types of firms: family firms managed by family-CEOs, family firms managed by non-family CEOs and non-family firms. Findings: Consistent with our expectations, we show that firms managed by fami ... [++]
Purpose: Our paper seeks to further understand how family involvement in management influences firm growth. Design/methodology/approach: Using a sample of small high-tech firms, we classify three different types of firms: family firms managed by family-CEOs, family firms managed by non-family CEOs and non-family firms. Findings: Consistent with our expectations, we show that firms managed by family-CEOs have less firm growth in comparison with the other two groups. When the family firm is managed by non-family CEOs, the presence of another family member in management positions has a negative impact on firm growth. Finally, we found that founder-led family firms have better firm growth than descendant-led family firms. Research limitations/implications: Implications for the theory of family firms are discussed. Originality/value: The value of the present study is to analyse in depth the heterogeneity of the family business trying to close the gap by exploring the effect of family involvement on small firm growth. Thus, we will find different behaviours of these family companies, depending on the family member’s presence in management positions. [--]
Family firms, Family CEO, Family generation, Family TMT, Small firms growth
Journal of Small Business and Enterprise Development, 2020, 27(4), 531-554
Universidad Pública de Navarra. Departamento de Gestión de Empresas / Universidad Pública de Navarra. Departamento de Estadística, Informática y Matemáticas / Universidad Pública de Navarra/Nafarroako Unibertsitate Publikoa. Institute for Advanced Research in Business and Economics - INARBE / Nafarroako Unibertsitate Publikoa. Enpresen Kudeaketa Saila / Nafarroako Unibertsitate Publikoa. Estatistika, Informatika eta Matematika Saila
The authors acknowledge the support from the Spanish Ministry of Economy, Industry, and Competitiveness and the European Regional Development Fund (FEDER) through project ECO2017-86305-C4-4-R (AEI/FEDER, UE).
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