Exploring the relation between family involvement and firms’ financial performance: A replication and extension meta-analysis

Hansen, Christopher; Block, Joern

doi:10.1016/j.jbvi.2020.e00158

Cited by 38 publications

(44 citation statements)

References 79 publications

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“…Wagner et al . (2015) and Hansen and Block (2020) replicate their study with a larger sample of studies and find a practically and economically negligible but statistically significant outperformance of family firms, especially for publicly listed and large firms. Taras et al .…”

Section: Introductionmentioning

confidence: 73%

Family Firm Performance Over the Business Cycle: A Meta‐analysis

Hansen¹,

Block²,

Neuenkirch³

2020

Journal of Economic Surveys

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The financial performance of family firms has been widely studied in the literature. Combining the results of 172 primary studies from 38 countries with data about business cycles, we investigated how family firm performance changes over the business cycle. Using meta-analytic estimation methods, we found that family firms slightly outperform nonfamily firms in both economically good and economically difficult times. For non-OECD countries, we found evidence for a countercyclical effect where the relative outperformance of family firms is higher in economically difficult times. No such cyclical effect was found for family firms in OECD countries. Our study extends the literature on how family firm performance depends on macroeconomic factors.

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Section: Introductionmentioning

confidence: 73%

Family Firm Performance Over the Business Cycle: A Meta‐analysis

Hansen¹,

Block²,

Neuenkirch³

2020

Journal of Economic Surveys

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“…Traditionally, family involvement is defined as involving one or more family members who hold a large control over the business, due to a significant percentage of ownership [28]. They explained that family involvement depends on three pillars namely management, family and ownership.…”

Section: Relationship About Family Involvement and Family Business Pementioning

confidence: 99%

“…Scales were measured using a 7 Likert type scale (1 represent strongly disagree and 7 represent strongly agree). Entrepreneurial Orientation Dimensions EO1 -EO10 [28]. The dimensions of entrepreneurial orientation are classified into 3 dimensions, namely innovativeness, risk taking and proactiveness.…”

Section: Sample and Data Collectionmentioning

confidence: 99%

“…Likewise, family members who directly own shares in the business and simultaneously become directors or commissioners were also found to have a negative effect on business performance. In research on family businesses engaged in non-financial fields in Spain, it was found that family involvement had no significant effect on business performance because family control factors occurred more dominantly so that it could affect performance [28]. Other studies have found that family involvement negatively effects business performance with ROA measures.…”

Section: Introductionmentioning

confidence: 98%

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Effect of Entrepreneurial Orientation and Family Involvement on Family Business Performance: Case Study in Hotel Business in Yogyakarta

Rachmawati¹,

Suhartanti²

2020

Proceedings of the 2nd International Conference of Business, Accounting and Economics, ICBAE 2020, 5 - 6 August 2020, Purwoker

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This study aims to determine the direct effect of entrepreneurial orientation on family business performance. In addition, this study will also discuss the role of family involvement as a mediating variable. A total of 328 hotels in Yogyakarta were selected as samples by the convenience sampling method. Primary data was collected through a structured questionnaire. Hypotheses are tested by structural equation modeling using AMOS 22.0. Sobel test is used to determine the indirect effect of mediation variables. The results showed that entrepreneurial orientation has no significant effect on family business performance. Family involvement acts as a fully mediation in the relationship between entrepreneurial orientation and family business performance. This finding has significant implications that can help family businesses in developing strategies that are suitable in business management. The results provide a new model in providing an overview of the direct and indirect roles in the assessment of family business performance.

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“…Financial performance research results indicate factors related to financial performance including CSR (Franco et al, 2019;Jahmane & Gaies, 2020;Rhou et al, 2016;Theodoulidis et al, 2017), CSP (Esteban-Sanchez et al, 2017;H. Wang et al, 2016), environment (Liu, 2020;Lucato et al, 2017;Petitjean, 2019;Tzouvanas, Kizys, Chatziantoniou, & Sagitova, 2019), digital business strategies (Ukko, Nasiri, Saunila, & Rantala, 2019), organizational and stakeholder regulation (Baah, Jin, & Tang, 2020), networking and innovation (Etriya, Scholten, Wubben, & Omta, 2019), agency cost (Gan, Park, & Suh, 2020), corporate governance (Alahdal, Alsamhi, Tabash, & Farhan, 2020), energy efficiency (Moon & Min, 2020), family involvement (Hansen & Block, 2020), and the disclosure of information contributions (S. Wang, Wang, Wang, & Yang, 2020). Based on previous research relating to financial performance, factors related to financial performance and still interesting to study are the environment and agency costs.…”

Section: Introductionmentioning

confidence: 99%

Analysis of Financial Performance of Pdams Affected By Environmental Performance and Environmental Accounting with Agency Cost Mediation

2020

EJBIR

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Financial Performance is a benchmark for a company in assessing the success and sustainable companies of each age. At this time, the environment is very influential on the performance of the company's finances. This study will analyze the financial performance of PDAM Indonesia which is influenced by environmental performance and environmental accounting by mediating agency costs. This study only used a sample of 37 PDAMs that met established criteria with the type of research being used as explanatory research. The research method used is multiple linear regression with data analysis using SPSS software. The test results show that the financial performance of PDAMs is negatively affected directly by environmental performance and is insignificant while environmental accounting in contrast has a positive effect. Meanwhile, environmental performance is mediated by agency costs so that it does not directly affect the positive effect on PDAM's financial performance as well as environmental accounting. PDAMs that provide high agency costs to the PDAM board of directors increase PDAM financial performance.

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Exploring the relation between family involvement and firms’ financial performance: A replication and extension meta-analysis

Cited by 38 publications

References 79 publications

Family Firm Performance Over the Business Cycle: A Meta‐analysis

Family Firm Performance Over the Business Cycle: A Meta‐analysis

Effect of Entrepreneurial Orientation and Family Involvement on Family Business Performance: Case Study in Hotel Business in Yogyakarta

Analysis of Financial Performance of Pdams Affected By Environmental Performance and Environmental Accounting with Agency Cost Mediation

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