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3 edition of Does family control affect trade performance? found in the catalog.

Does family control affect trade performance?

Giorgio Barba Navaretti

Does family control affect trade performance?

evidence for Italian firms

by Giorgio Barba Navaretti

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  • 32 Currently reading

Published by Centre for Economic Performance, London School of Economics and Political Science in London .
Written in English


About the Edition

This paper examines whether the export decision of firms is affected by their ownership structure, specifically it looks at whether family control is an obstacle to entering foreign markets. The underlying assumption is that family firms are risk averse. Risk aversion may be an obstacle to entering foreign markets, as far as these are perceived as more volatile and risky than the domestic one, particularly when such choice entices bearing relatively high sunk costs. We develop an illustrative theoretical model that shows how the combination between high risk aversion and low initial productivity may hinder family firms" decision to enter foreign markets, particularly distant ones. The empirical analysis, based on a detailed panel data set of Italian firms covering the years from 1995 to 2003, confirms such predictions by showing that family controlled firms do indeed export less than other type of companies even after controlling for firm heterogeneity in productivity, size, technology and access to credit.

Edition Notes

StatementGiorgio Barba Navaretti, Riccardo Faini and Alessandra Tucci.
SeriesCEP discussion paper -- no. 896
ContributionsFaini, Riccardo., Tucci, Alessandra., London School of Economics and Political Science. Centre for Economic Performance.
Classifications
LC ClassificationsHC10
The Physical Object
FormatElectronic resource
ID Numbers
Open LibraryOL23148620M
LC Control Number2009376001

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Does family control affect trade performance? by Giorgio Barba Navaretti Download PDF EPUB FB2

Navaretti, Giorgio Barba & Faini, Riccardo & Tucci, Alessandra, "Does family control affect trade performance?: evidence for Italian firms," LSE Research Online Documents on EconomicsLondon School of Economics and Political Science, LSE Library.

Founders, families, and family firms. We initially define family firms, following Anderson and Reeb (), as those in which the founder or a member of his or her family by either blood or marriage is an officer, director, or blockholder, either individually or as a main analyses are based on this definition, which does not require a minimum threshold for family ownership or Cited by: family firms, namely, ownership, control, and management.

The theory and evidence thus far raise questions about all three of these elements. First, does family ownership per se create or destroy value. Berle and Means () suggest that ownership concentration should have a positive effect on valueCited by: Leveraging hand-collected data from a sample of 85 Italian listed family companies during the period – ( firm-year observations), we investigate whether three main family-related.

Valuation and operating performance are significantly higher in founder-controlled corporations, and are at least not worse than average in descendants-controlled corporations. Thus, our results lead Does family control affect trade performance? book the conclusion that family control is positive for firm value and operating performance in Continental European by: The following facts emerge from Table 1, panel A: the Portuguese family firms present, on average, better operational performance (measured by the ratio ROA) than non-family firms, worse performance perceived by the market (proxy Q) and a similar Spain, family firms perform (both financial and stock market performance) better than non-family by:   American taxpayers invest heavily in education.

Last year, spending on public K–12 education totaled $ billion, about 4 percent of gross domestic prod­uct (GDP). Abstract. Using proxy data on all Fortune firms duringwe establish that, in order to understand whether and when family firms are more or less valuable than nonfamily firms, one must distinguish among three fundamental elements in the definition of family firms: ownership, control, and by: The aim of this study is to investigate the effect of family control on firm performance on the OMX60 during the period The study is inspired by Anderson and Reeb () an Oreland ().

The results show evidence of a positive effect on Return on assets for founding. PDF | This study investigates the effect of family firm on corporate performance and financial policy (capital structure, cash holding, and cash | Find, read and cite all the research you need.

As control variables, we include fund size, fund family size, fund expense ratio, turnover, fund age, investment style indicators, and the average size of stocks held by the funds.

Table 9 Propensity to buy and sell media-covered stocks and future fund performance: Panel regressionsCited by: The Effect of Family Control on Corporate Performance Lourdes Trevino Universidad Autónoma de Nuevo León Alejandro Alvarado-Rodriguez Instituto Mexicano del Seguro Social Introduction The profitability of a company, which translates into its liquid assets, whether.

Management literature is currently giving growing conceptual and empirical attention to the peculiarity and relevance of entrepreneurial attitudes in family firms, with divergent outcomes. Aiming at concretizing the effects of these attitudes, denoted by the entrepreneurial orientation construct, on family business performance and considering that family dynamics come into play in this Cited by: Family planning via the use of modern birth control is one of the most cost-effective health interventions.

For every dollar spent, the United Nations estimates that two to six dollars are saved. These cost savings are related to preventing unplanned pregnancies and decreasing the.

Research Question/Issue: A contentious and prominent research question in the management literature is whether publicly listed family firms (FFs) outperform other types of corporations.

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People are afraid to talk to you and may even avoid talking to you for fear of your angry reaction, your behavior, or physical/verbal abuse. UK exports 40% of its products to EU countries.

Photograph: Bloomberg via Getty. Britain will have to reach a new trade agreement with the European. This project work sought to find out how family size influences the academic performance of students in secondary schools in Oredo Local Government Area of Edo State.

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Key-Words: performance, risk, risk management, profitability, assessment, micro risks, control. 1 Introduction. As liberalization, globalization and the rapid development of computer technology creates new business opportunities, economic and financial bodies are exposed to risks more complex and diverse than in the Size: KB.

Children's experiences at home can have a direct impact on their performance at school, research at Cardiff University, UK has found. Recent findings .Introduction Students learning are different from time to time. One of the important elements in our education these days is technology. To learn and teach better, both students and teachers must be a ware of new things.

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