Assessing family firm performance using frontier analysis techniques: Evidence from Italian manufacturing industries

Erbetta, Fabrizio; Menozzi, Anna; Corbetta, Guido; Fraquelli, Giovanni

doi:10.1016/j.jfbs.2013.04.001

Cited by 30 publications

(20 citation statements)

References 47 publications

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“…Accordingly, to maximise returns, firms need to pursue production efficiency (Erbetta et al. ). If production efficiency could be improved, profitability would improve.…”

Section: Theoretical Underpinnings and Prior Studiesmentioning

confidence: 99%

See 1 more Smart Citation

Do ATMs Increase Technical Efficiency of Banks in a Developing Country? Evidence from Indian Banks

Sathye

2016

Australian Accounting Review

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“…Accordingly, to maximise returns, firms need to pursue production efficiency (Erbetta et al. ). If production efficiency could be improved, profitability would improve.…”

Section: Theoretical Underpinnings and Prior Studiesmentioning

confidence: 99%

“…Miller (1984) and Banker and Datar (1987) argue that profitability depends on factor productivity. Accordingly, to maximise returns, firms need to pursue production efficiency (Erbetta et al 2013). If production efficiency could be improved, profitability would improve.…”

Section: Theoretical Frameworkmentioning

confidence: 99%

Do ATMs Increase Technical Efficiency of Banks in a Developing Country? Evidence from Indian Banks

Sathye

2016

Australian Accounting Review

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“…In the last 10 years in Europe, the current trend is an increase in mergers and acquisitions, where the family businesses are increasingly directed to diversification of business activities (projects), unlike some previous times where the strategy was predominantly on the focus within a single industry (Defrancq et al, 2016). Erbetta et al (2013) in their study state that there is a direct correlation between family ownership and company performance within specific industries and markets. Mihajlovic et al (2011) assume that systematic decision making and project portfolio management efficiency are key (in any industry) to utilization of designed results of the project.…”

Section: Specifics Of the Home (Regional) Market And Industrymentioning

confidence: 94%

Key factors of project success in family small and medium-sized companies: the theoretical review

Arsić

2017

Manage: J. Sustainable Bus. Manage, Solutions Emerging Econ.

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The paper proposes a systematization of the key success factors of projects, through the theoretical review of family-owned companies operating in the EU market. It is the small and medium companies that in their own way contribute to the overall success of the national economy in terms of economic activity, increased employment, development activities and defining better business environment. The theoretical review observed numerous studies of family businesses, and the contribution of this work is in the systematization of the results of previous research – over three horizons, i.e., over the role of managers in the creation of successful projects (or owner if it is a family enterprise), institutional support for companies in Serbia and the EU, specific industries and the parent (regional) markets where a family company operates. Project management, as a general representation of the concept of implementation of strategic and operational endeavors, contains many specifics in terms of critical success factors of projects depending on the environment in which they are implemented. The goal of the paper is reflected in the identification and presentation of critical success factors of projects implemented in family companies. The paper concludes with a discussion of the research results in relation to the existing, similar research studies, as well as with the announcement of future research, which will examine the conclusions drawn on a real sample.

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“…The agency theory framework has been widely used to investigate the relation between corporate governance and firms" performance and additionally to contrast family and non-family businesses (Erbetta et al, 2013). Such studies have not produced unequivocal results (Enriquez and Volpin, 2007).…”

Section: Literature Reviewmentioning

confidence: 99%

Firm performance and economic crisis: Family versus non-family businesses in Italy

Cesaroni¹,

Sentuti²

2017

Afr. J. Bus. Manage.

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This study investigates the performance of medium-sized family businesses -hereafter MSFBsduring the economic recession by comparing family and non-family firms, and correlating the organisational performance to the family ownership and firms' solvency. An empirical research study was carried out on a sample of 128 Italian medium-sized businesses -hereafter MSBs -(76 family and 52 non-family businesses). We used the AIDA -Bureau van Dijk database to collect data referring to three years 2007, 2009 and 2014, respectively corresponding to the pre-crisis phase -2007, the great recession -2009, and the post-crisis phase -2014. STATA software was used for analysing data and the analysis was organised into three steps. First, we collected the descriptive statistics. Then, we used a t-test to determine if businesses' performance and solvency significantly differ in family and nonfamily businesses subgroups. In the last step, we performed a regression analysis to examine the relationship between firms' profitability (dependent variable) and family ownership and solvency (independent variables). Contrary to previous research, we found that MSFBs performed worse at each stage of the crisis, especially during the harshest phase of the crisis. Results also show that family ownership negatively affected businesses' profitability. On the contrary, solvency positively affected firms' profitability at each stage of the crisis. Finally, we analysed and discussed a model case study, to better understand financial and economic dynamics of family firms during the analysed period. Although family firms' performance during the recession period has been widely studied, they generally referred to large companies. Analyses haven't considered MSBs, even if in recent years they have played an important role in several economic systems and show some distinctive features that can significantly differentiate them from large companies. The main contribution this study brings to the literature is investigating family business performance during a downturn, paying attention to MSBs.

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Assessing family firm performance using frontier analysis techniques: Evidence from Italian manufacturing industries

Cited by 30 publications

References 47 publications

Do ATMs Increase Technical Efficiency of Banks in a Developing Country? Evidence from Indian Banks

Do ATMs Increase Technical Efficiency of Banks in a Developing Country? Evidence from Indian Banks

Key factors of project success in family small and medium-sized companies: the theoretical review

Firm performance and economic crisis: Family versus non-family businesses in Italy

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