دانلود رایگان مقاله الزویر در مورد تجزیه و تحلیل عملکرد مالی شرکت های خانوادگی (کلیک کنید)
توضیحات :
وبسایت مکاله اقدام به ارائه پروژه ی ساینس دایرکت با فرمت pdf، از انتشارات الزویر برای رشته علوم اقتصادی، و با عنوان تجزیه و تحلیل عملکرد مالی شرکت های خانوادگی، نموده است.
مشخصات این مقاله :
عنوان مقاله :
A meta-analysis of the financial performance of family firms: Another attempt
ترجمه فارسی عنوان :
تجزیه و تحلیل عملکرد مالی شرکت های خانوادگی : تلاش دیگر
سال انتشار : 2015
متعلق به مجله یا ژورنال : مجله استراتژی کسب و کار خانوادگی-Journal of Family Business Strategy
فرمت: PDF
تعداد صفحات: 11
شماره پروژه: 5125
کلمات کلیدی :
Family firms,Financial performance,Meta-analysis,HOMA, Random effects
شرکت های خانوادگی، عملکرد مالی، متا تجزیه و تحلیل، HOMA، اثرات تصادفی
چکیده :
Abstract
This study presents the results of a meta-analysis of the financial performance of family firms. Drawing on a sample of 380 studies, we find that family firms show an economically weak, albeit statistically significant, superior performance compared to non-family firms. Furthermore, we find moderating factors to significantly condition the relationship. These results show that the positive effect of family firms on financial performance is more pronounced in samples of public and large firms and when an ownership definition of family firms is used. It is also notable that family firms do best when their performance is assessed by ROA, a measure that is not as influenced by financial structure as ROE. Based on the broad empirical evidence obtained, we discuss implications and avenues for future research.
مقدمه این مقاله :
Introduction
There has been a long and controversial debate in family business research about the performance differences between family and non-family firms. Scholars have presented arguments both in favour of and against the superior performance of family firms. Family altruism and family nepotism proponents, for example, suggest a negative effect of being a family firm on performance (Bloom & Van Reenen, 2007; Pe´rez-Gonza´ lez, 2006),whereas those insisting on a long-term orientation and lower owner-management agency costs suggest a positive effect (Audretsch, Hu¨ lsbeck, & Lehmann, 2013; Miller & Le Breton-Miller, 2005). These conceptual differences have been mirrored in the many empirical works on the topic.In attempting to reconcile such conflicting findings, O’Boyle, Pollack, and Rutherford (2012) conducted a meta-analysis of the performance differences between family and non-family firms. In aggregate, they found a small and insignificant positive effect of family involvement on firm performance (effect size = 0.006). In addition, they detected little evidence of moderating influences on the country, firm, or study levels. Two related but more restrictive meta-analyses were conducted on family firm performance effects for large public US firms by Carney, van Essen, Gedajlovic, and Heugens (2013) and van Essen, Carney, Gedajlovic, and Pursey (2014). Given the weak statistical results and the relatively small sample sizes of these prior meta-analyses.1 We believe that the question of whether family firms differ from other firms in performance has not yet been answered conclusively. We attempt to contribute to the debate in the present paper.
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دانلود رایگان مقاله الزویر در مورد تجزیه و تحلیل عملکرد مالی شرکت های خانوادگی (کلیک کنید)
