Are female leaders more efficient in family firms than in non-family firms?

Bjuggren, Per-Olof; Nordström, Louise; Palmberg, Johanna

doi:10.1108/cg-01-2017-0017

Cited by 47 publications

(55 citation statements)

References 60 publications

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“…Joint venture size is lower for family businesses and the t-statistics indicate that the difference is significant at 1%. Consistently with literature (Cheung et al, 2005;Chen et al, 2005;Lam and Lee, 2008;Bjuggren et al, 2018), CEO Family control and influence on JV investment duality and the percentage of women on the board, as well as human capital efficiency, are significantly different at the 1% significance level between the two samples while there is evidence of difference at the 5% level for the proportion of link-type joint ventures.…”

Section: Resultssupporting

confidence: 87%

Family control and influence on JV investment – the moderating effect of JV type and IC components

Gavana

Gottardo

Moisello

2021

JIC

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PurposeThis paper aims to investigate the effect of the nature of ownership and board characteristics on the investment choices in joint ventures (JVs) from the dimensional point of view, controlling for the effect of JV type and other components of intellectual capital.Design/methodology/approachThe authors study a sample of Italian, Spanish, German and French nonfinancial listed firms over the 2010–2018 period, controlling for the fixed effects of the company's sector of operation and the year. The authors also analyze the effect of family control and influence on JV investment size, taking into consideration certain board characteristics, the type of JV, human capital efficiency, structural capital efficiency and capital employed efficiency while also controlling for a firm's profitability and size. To test the hypotheses, GLS panel data was used.FindingsThe results indicate that the size of the investment in JVs is smaller for family firms than for nonfamily businesses. The presence of CEO duality has an opposing effect on the size of the investment in joint ventures as it has a lowering effect in family businesses while it exerts an amplifier influence in nonfamily businesses. Moreover, the type of joint venture has a significant effect for family firms: the choice of a link joint venture reduces the size of the investment. The authors find that human capital efficiency increases JV investment size for all firms.Originality/valueThis study is the first to analyze the effect of the main dimension of socioemotional wealth – family control and influence – on a firm's JV investment size. It controls for the effect of JV type – link or scale – and the interplay of the other IC components.

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Section: Resultssupporting

confidence: 87%

Family control and influence on JV investment – the moderating effect of JV type and IC components

Gavana

Gottardo

Moisello

2021

JIC

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“…This kind of family agenda is in line with SEW protection. However, this may weaken the internal governance system and yield lower performance (Bjuggren, Nordström and Palmberg, 2018). Second, daughters may be less prepared for succession (Nelson and Constantinidis, 2017).…”

Section: Theoretical Implicationsmentioning

confidence: 99%

Family Female Directors versus Non‐family Female Directors: Effects on Firm Value and Dividend Payouts in an Extreme Institutional Environment

Herdhayinta

Lau

Shen

2021

British J of Management

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By differentiating between family and non-family female directors, this study aims to reconcile the prior mixed evidence on the effect of board gender diversity, especially when a company operates in a weak institutional environment. We argue that female directors are not homogenous. Drawing upon the socioemotional wealth perspective, this study proposes that family and non-family female directors would display different behaviour when fulfilling their duty as monitoring managers. By analysing boards of directors in Indonesia from 2012 to 2018, we show that only non-family female directors significantly enhance firm value and advocate dividend payouts. Our results indicate that non-family female directors are more effective than family female directors at monitoring the management and protecting the interests of minority shareholders. This study echoes the call of integrating institutional contexts and differentiating different types of female directors when analysing the effects of gender diversity.

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“…Despite these facts, the study of female leadership and its impact in firm performance of family firms has not received much attention. The study of Bjuggren [41] is an exception where differences in firm performance due to female leadership in family and non-family firms was analyzed and the results indicated that female leadership makes much more of a positive difference on performance in family firms while this effect is negative in non-family firms.…”

Section: Hypothesis 1 Female Executives Exert a Positive Effect On Fmentioning

confidence: 99%

Family Female Executives and Firm Financial Performance

Giráldez¹,

Berenguer²

2018

Sustainability

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The aim of this paper is to analyze the relationship of family executive women with firm performance in family firms. We have obtained a final sample of 269 family and non-family firms (comprising 3073 firm/year observations) from the Spanish High Council of Chamber (SHCC) website, while data were collected from System for Analysis of Iberian Balances database (SABI) for the period 2000 to 2011. Applying a generalized method of moments (GMM) panel data methodology, we observe a positive effect on the return on assets (ROA) depending on the existence of family ties of executive women. Several implications for the career development of women in family firms arise from our results.

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Are female leaders more efficient in family firms than in non-family firms?

Cited by 47 publications

References 60 publications

Family control and influence on JV investment – the moderating effect of JV type and IC components

Family control and influence on JV investment – the moderating effect of JV type and IC components

Family Female Directors versus Non‐family Female Directors: Effects on Firm Value and Dividend Payouts in an Extreme Institutional Environment

Family Female Executives and Firm Financial Performance

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