| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5789 |
| DP5789 Homo Reciprocans: Survey Evidence on Prevalence, Behaviour and Success | |
| Armin Falk; Thomas J Dohmen; Uwe Sunde; David Huffman | |
| 发表日期 | 2006-08-09 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | In this paper, we study the performance of Italian listed family firms in the period 1998-2003. We measure their performance by using both accounting and market data. We first study the relative performance of family firms compared to widely held firms. Then we investigate whether performance is affected by the type of family firm (i.e., whether the CEO is a member of the family or is an outsider). We find that the data and the methodology used to measure performance strongly affect the results. When performance is measured by accounting data (ROA), using a static model, we find evidence in favour of a superior performance of family firms. Such evidence is not confirmed by the application of the same model to market measures of performance. However, we report statistical evidence that the correct econometric specification for market data is a dynamic model. The results of estimation of the dynamic model for the market measures of performance are more consistent with those based on the static model for the accounting measures of performance. |
| 主题 | Financial Economics |
| 关键词 | Family firms Corporate performance Management style |
| URL | https://cepr.org/publications/dp5789 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534629 |
| 推荐引用方式 GB/T 7714 | Armin Falk,Thomas J Dohmen,Uwe Sunde,et al. DP5789 Homo Reciprocans: Survey Evidence on Prevalence, Behaviour and Success. 2006. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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