Effects of family ownership on SME performance

  1. Jesús Herrera Madueño
  2. Manuel Larran Jorge
  3. Gonzalo Sánchez Gardey
Revista:
European Journal of Family Business

ISSN: 2444-877X

Any de publicació: 2011

Volum: 1

Número: 2

Pàgines: 5-16

Tipus: Article

DOI: 10.24310/EJFBEJFB.V1I2.4020 DIALNET GOOGLE SCHOLAR lock_openDialnet editor

Altres publicacions en: European Journal of Family Business

Resum

This paper proposes an analysis of efficiency differences between family and non family controlled SME’s. The financial and organisational peculiarities of this kind of firms are discussed, drawing on Agency and Transaction Costs theories. Due to the empir ically demonstrated importance of size in the differentiation between these two types of organisations, the paper distinguishes between different size segments, in terms of number of employees. Similarly, the singularities in the efficiency of family compa nies are analysed by distinguishing between sectors of activity. Contrary to what could be expected, no differences in the efficiency of family owned SME’s were found. Academic and professional implications of this result are discussed in the last section of the paper.

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