An investigation of the role of family ownership, control and management in listed Chinese family firms

被引：0
|
作者：
Jing Zhou
On Kit Tam
Ping Yu
机构：
[1] School of International Business,
[2] Southwestern University of Finance and Economics,undefined
[3] College of Business,undefined
[4] RMIT University,undefined
来源：
Asian Business & Management | 2013年 / 12卷
关键词：
corporate governance; agency problems; family firms; China;
D O I：
暂无
中图分类号：
学科分类号：
摘要：
This study seeks to shed light on two specific governance issues in family firms: First, do control-enhancing mechanisms, often adopted by the controlling family, hurt firm performance? Second, do family managers outperform professional managers? By analyzing a unique and detailed family-firm data set from China, we find that in founder-led firms family members are more inclined to opt for control-enhancing instruments, which harms firm performance. We also find that family managers in general outperform professional managers, especially when the founder serves as Chairman and Chief Executive Officer (CEO) or remains as Chairman with a relative CEO.
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页码：197 / 225
页数：28
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