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Andersson, F., Johansson, D., Karlsson, J., Lodefalk, M. & Poldahl, A. (2018). Female Top Management in Family Firms and Non-family Firms: Evidence from Total Population Data. International Journal of Entrepreneurship and Small Business (3), 303-326
Open this publication in new window or tab >>Female Top Management in Family Firms and Non-family Firms: Evidence from Total Population Data
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2018 (English)In: International Journal of Entrepreneurship and Small Business, ISSN 1476-1297, E-ISSN 1741-8054, no 3, p. 303-326Article in journal (Refereed) In press
Abstract [en]

We exploit information on ownership, management and kinship to study the representation of women in top management teams in Swedish family and non-family firms among domiciled limited liability firms over the years 2004 to 2010. The share of female top managers is analysed across listed and non-listed firms as well as across industries. We then estimate the likelihood that a woman is elected into the top management team in family and non-family firms using a probit regression model where we control for firm- and individual-level characteristics, including the gender distribution of the firm and kinship relations to existing board members and firm owners. We find that non-listed family firms are more likely to appoint female top managers, whereas we find no differences among listed firms. Moreover, we find that the gender composition and kinship structures of firms influence the appointment of female top managers.

Place, publisher, year, edition, pages
InderScience Publishers, 2018
National Category
Economics
Research subject
Economics
Identifiers
urn:nbn:se:oru:diva-57683 (URN)10.1504/IJESB.2018.095903 (DOI)2-s2.0-85055855794 (Scopus ID)
Projects
Tillväxthinder i små och medelstora företag
Funder
Swedish Agency for Economic and Regional GrowthThe Jan Wallander and Tom Hedelius Foundation
Available from: 2017-05-16 Created: 2017-05-16 Last updated: 2018-12-03Bibliographically approved
Andersson, F., Johansson, D., Karlsson, J., Lodefalk, M. & Poldahl, A. (2018). The Characteristics of Family Firms: Exploiting Information on Ownership, Kinship and Governance Using Total Population Data. Small Business Economics, 51(3), 539-556
Open this publication in new window or tab >>The Characteristics of Family Firms: Exploiting Information on Ownership, Kinship and Governance Using Total Population Data
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2018 (English)In: Small Business Economics, ISSN 0921-898X, E-ISSN 1573-0913, Vol. 51, no 3, p. 539-556Article in journal (Refereed) Published
Abstract [en]

Family firms are often considered characteristically different from non-family firms. However, our understanding of family firms suffers from an inability to identify them in total population data; information is rarely available regarding owners, their kinship, and their involvement in firm governance. We present a method for identifying domiciled family firms using register data; this method offers greater accuracy than previous methods. We apply this method to Swedish data concerning firm ownership, governance, and kinship from 2004 to 2010. We find that the family firm is a significant organizational form, contributing over one third of all employment and gross domestic product (GDP). Family firms are common in most industries and range in size. Furthermore, we find that, compared to private non-family firms, family firms have fewer total assets, employment, and sales and carry higher solidity, although family firms are more profitable. These differences diminish with firm size. We conclude that the term “family firm” includes a large variety of firms, and we call for increased attention to their heterogeneity.

Place, publisher, year, edition, pages
Kluwer Academic/Plenum Publishers, 2018
Keywords
Entrepreneur, Family firms, Employment, GDP, Register data
National Category
Economics
Research subject
Economics
Identifiers
urn:nbn:se:oru:diva-61172 (URN)10.1007/s11187-017-9947-6 (DOI)000443439100003 ()2-s2.0-85030325971 (Scopus ID)
Projects
Familjeföretagandets betydelse
Funder
The Jan Wallander and Tom Hedelius FoundationSwedish Agency for Economic and Regional Growth
Available from: 2017-09-28 Created: 2017-09-28 Last updated: 2018-09-19Bibliographically approved
Johansson, D., Westerberg, H. & Daunfeldt, S.-O. (2018). Which firms provide jobs for unemployed non-Western immigrants?. Service Industries Journal
Open this publication in new window or tab >>Which firms provide jobs for unemployed non-Western immigrants?
2018 (English)In: Service Industries Journal, ISSN 0264-2069, E-ISSN 1743-9507Article in journal (Refereed) Accepted
Abstract [en]

Although the refugee immigration crisis is one of the major socio-economic challenges in Europe, we still lack knowledge on what characterizes firms that provide jobs for unemployed immigrants. We provide an answer by investigating firms that recruit unemployed non-Western immigrants using matched employer-employee data from Statistics Sweden. We find large industry differences; firms active in the service sectors, such as the hospitality, transport, and healthcare industries, are much more likely to hire unemployed non-Western immigrants than firms in high-tech and manufacturing industries. In addition, after controlling for educational attainment and industry of occupation, firms with at least one non-Western immigrant manager hire more than four times as many unemployed non-Western immigrants than firms without any non-Western immigrant managers. Public policies that target industries might thus also influence job opportunities for immigrants and, thereby, the possibility of their integration into society. 

Place, publisher, year, edition, pages
Taylor & Francis, 2018
Keywords
Immigration, labor market, unemployment, networks, segregation, skill-sortin
National Category
Economics
Research subject
Economics
Identifiers
urn:nbn:se:oru:diva-69288 (URN)
Available from: 2018-10-04 Created: 2018-10-04 Last updated: 2018-10-05Bibliographically approved
Johansson, D. & Malm, A. (2017). Economics Doctoral Programs Still Elide Entrepreneurship. Econ Journal Watch, 14(2), 196-217
Open this publication in new window or tab >>Economics Doctoral Programs Still Elide Entrepreneurship
2017 (English)In: Econ Journal Watch, ISSN 1933-527X, E-ISSN 1933-527X, Vol. 14, no 2, p. 196-217Article in journal (Refereed) Published
Abstract [en]

Is entrepreneurship covered in economics doctoral programs? Updating an earlier study (Johansson 2004), we examine leading programs in the United States and Sweden by textual analysis of textbooks and assigned articles in microeconomics, macroeconomics, and industrial organization courses. We find that coverage of entrepreneurship in textbooks is scant and that theories regarding the function of the entrepreneur are hardly mentioned in assigned articles. Talk of the entrepreneur is more common in a few newer textbooks, which could indicate a renewed interest. But even textbooks that mention the entrepreneur do not define the concept or discuss the entrepreneur’s economic role in any depth; often the entrepreneur is just another optimizing agent within a model, like a borrower, manager, or investor.

Place, publisher, year, edition, pages
Atlas Economic Research Foundation, 2017
Keywords
Entrepreneur, innovation, institution, invention, teaching, textbook
National Category
Economics
Research subject
Economics
Identifiers
urn:nbn:se:oru:diva-57890 (URN)000403570100005 ()2-s2.0-85020226665 (Scopus ID)
Available from: 2017-06-04 Created: 2017-06-04 Last updated: 2017-11-29Bibliographically approved
Andersson, F., Johansson, D., Karlsson, J., Lodefalk, M. & Poldahl, A. (2017). The Characteristics and Performance of Family Firms: Exploiting information on ownership, governance and kinship using total population data. Örebro, Sweden: Örebro University School of Business
Open this publication in new window or tab >>The Characteristics and Performance of Family Firms: Exploiting information on ownership, governance and kinship using total population data
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2017 (English)Report (Refereed)
Abstract [en]

Family firms are often considered characteristically different from non-family firms, and the economic implications of these differences have generated significant academic debate. However, our understanding of family firms suffers from an inability to identify them in total population data, as this requires information on owners, their kinship and involvement in firm governance, which is rarely available. We present a method for identifying domiciled family firms using register data that offers greater accuracy than previous methods. We then apply it to data from Statistics Sweden concerning firm ownership, governance and kinship over the years 2004-2010. Next, we use Swedish data to estimate these firms’ economic contribution to total employment and gross domestic product (GDP) and compare them to private domiciled non-family firms in terms of their characteristics and economic performance. We find that the family firm is the prevalent organizational form, contributing to over one-third of all employment and GDP. Family firms are common across industries and sizes, ranging from the smallest producers to the largest multinational firms. However, their characteristics differ across sizes and legal forms, thereby indicating that the seemingly contradictory findings among previous studies on family firms may be due to unobserved heterogeneity. We furthermore find that they are smaller than private non-family firms in employment and sales and carry higher solidity, although they are more profitable. These differences diminish with firm size, however. We conclude that the term ‘family firm’ contains great diversity and call for increased attention to their heterogeneity.

Place, publisher, year, edition, pages
Örebro, Sweden: Örebro University School of Business, 2017. p. 58
Series
Working Papers, School of Business, ISSN 1403-0586 ; 2017:1
Keywords
entrepreneur, family firms, employment, GDP, register data
National Category
Economics
Identifiers
urn:nbn:se:oru:diva-64148 (URN)
Available from: 2018-01-15 Created: 2018-01-15 Last updated: 2018-05-09Bibliographically approved
Daunfeldt, S.-O., Elert, N. & Johansson, D. (2016). Are high-growth firms overrepresented in high-tech industries?. Industrial and Corporate Change, 25(1), 1-21
Open this publication in new window or tab >>Are high-growth firms overrepresented in high-tech industries?
2016 (English)In: Industrial and Corporate Change, ISSN 0960-6491, E-ISSN 1464-3650, Vol. 25, no 1, p. 1-21Article in journal (Refereed) Published
Abstract [en]

It is frequently argued that policymakers should target high-tech firms, i.e., firms with high R&D intensity, because such firms are considered more innovative and therefore potential fast-growers. This argument relies on the assumption that the association among high-tech status, innovativeness, and growth is actually positive. We examine this assumption by studying the industry distribution of high-growth firms (HGFs) across all four-digit NACE industries, using data covering all limited liability firms in Sweden during the period 1997-2008. The results of fractional logit regressions indicate that industries with high R&D intensity, ceteris paribus, can be expected to have a lower share of HGFs than can industries with lower R&D intensity. The findings cast doubt on the wisdom of targeting R&D industries or subsidizing R&D to promote firm growth. In contrast, we find that HGFs are overrepresented in knowledge-intensive service industries, i.e., service industries with a high share of human capital.

Place, publisher, year, edition, pages
Oxford University Press, 2016
National Category
Economics
Research subject
Economics
Identifiers
urn:nbn:se:oru:diva-52997 (URN)10.1093/icc/dtv035 (DOI)000371151300001 ()2-s2.0-84960129450 (Scopus ID)
Note

Funding Agency:

R&D Fund of the Swedish Tourism and Hospitality Industry (BFUF)

Available from: 2016-10-17 Created: 2016-10-17 Last updated: 2018-09-06Bibliographically approved
Bornhäll, A., Johansson, D. & Palmberg, J. (2016). The capital constraint paradox in micro and small family and nonfamily firms. Journal of Entrepreneurship and Public Policy, 5(1), 38-62
Open this publication in new window or tab >>The capital constraint paradox in micro and small family and nonfamily firms
2016 (English)In: Journal of Entrepreneurship and Public Policy, ISSN 2045-2101, E-ISSN 2045-211X, Vol. 5, no 1, p. 38-62Article in journal (Refereed) Published
Abstract [en]

Purpose – The purpose of this paper is to investigate the importance of the entrepreneur’s quest for independence and control over the firm for governance and financing strategies with a special focus on family firms and how they differ from nonfamily firms.

Design/methodology/approach – The analysis is based on 1,000 telephone interviews with Swedish micro and small firms. The survey data are matched with firm-level data from the Bureau van Dijks database ORBIS.

Findings – The analysis shows that independence is a prime motive for enterprises, statistically significantly more so for family owners. Family owners are more prone to use either their own savings or loans from family and are more reluctant to resort to external equity capital. Our results indicate a potential “capital constraint paradox”; there might be an abundance of external capital while firm growth is simultaneously constrained by a lack of internal funds.

Research limitations/implications – The main limitation is that the study is based on cross-section data. Future studies could thus be based on longitudinal data.

Practical implications – The authors argue that policy makers must recognize independence and control aversion as strong norms that guide entrepreneurial action and that micro- and small-firm growth would profit more from lower personal and corporate income taxes compared to policy schemes intended to increase the supply of external capital.

Originality/value – The paper offers new insights regarding the value of independence and how it affects strategic decisions within the firm.

Place, publisher, year, edition, pages
Emerald Group Publishing Limited, 2016
Keywords
Tax policy, Family firms, Informal institutions, Ownership
National Category
Economics
Research subject
Economics
Identifiers
urn:nbn:se:oru:diva-52998 (URN)10.1108/JEPP-10-2015-0033 (DOI)000387745300003 ()2-s2.0-84962135382 (Scopus ID)
Available from: 2016-10-17 Created: 2016-10-17 Last updated: 2017-09-15Bibliographically approved
Anyadike-Danes, M., Bjuggren, C. M., Gottschalk, S., Hölzl, W., Johansson, D., Maliranta, M. & Myrann, A. (2015). An international cohort comparison of size effects on job growth. Small Business Economics, 44(4), 821-844
Open this publication in new window or tab >>An international cohort comparison of size effects on job growth
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2015 (English)In: Small Business Economics, ISSN 0921-898X, E-ISSN 1573-0913, Vol. 44, no 4, p. 821-844Article in journal (Refereed) Published
Abstract [en]

The contribution of different-sized businesses to job creation continues to attract policymakers’ attention; however, it has recently been recognised that conclusions about size were confounded with the effect of age. We probe the role of size, controlling for age, by comparing the cohorts of firms born in 1998 over their first decade of life, using variation across half a dozen northern European countries Austria, Finland, Germany, Norway, Sweden and the UK to pin down size effects. We find that a very small proportion of the smallest firms play a crucial role in accounting for cross-country differences in job growth. A closer analysis reveals that the initial size distribution and survival rates do not seem to explain job growth differences between countries, rather it is a small number of rapidly growing firms that are driving this result.

Place, publisher, year, edition, pages
Springer, 2015
Keywords
Birth cohort; Distributed micro-data analysis; Firm age; Firm growth; Firm size; Firm survival
National Category
Economics
Research subject
Economics
Identifiers
urn:nbn:se:oru:diva-41178 (URN)10.1007/s11187-014-9622-0 (DOI)000351580800007 ()2-s2.0-84925307533 (Scopus ID)
Funder
Marianne and Marcus Wallenberg FoundationThe Jan Wallander and Tom Hedelius Foundation
Available from: 2015-01-13 Created: 2015-01-13 Last updated: 2018-06-26Bibliographically approved
Johansson, D., Stenkula, M. & Du Rietz, G. (2015). Capital Income Taxation of Swedish Households, 1862-2010. Scandinavian Economic History Review, 63(2), 154-177
Open this publication in new window or tab >>Capital Income Taxation of Swedish Households, 1862-2010
2015 (English)In: Scandinavian Economic History Review, ISSN 0358-5522, E-ISSN 1750-2837, Vol. 63, no 2, p. 154-177Article in journal (Refereed) Published
Abstract [en]

This study describes the evolution of capital income taxation, including corporate, dividend, interest, capital gains and wealth taxation, in Sweden between 1862 and 2010. To illustrate the evolution, we present annual time-series data on the marginal effective tax rates on capital income (METR) for a marginal investment financed with new share issues, retained earnings or debt. These data are unique in their consistency, thoroughness and time span. We identify four tax regimes separated by shifts in economic policy. The first regime stretches from 1862 until the Second World War. The METR is low, stable and does not exceed 5% until the First World War, when the METR begins to drift upwards and varies depending on the source of finance. The outbreak of the Second World War establishes the second regime, when the magnitude and variation of the METR sharply increase. The METR peaks during the third regime in the 1970s and 1980s and often exceeds 100%. The 1990–1991 tax reform represents the beginning of the fourth regime, which is characterised by lower and smaller variations in the METR. The METR varies between 15% and 40% at the end of this period.

Place, publisher, year, edition, pages
Taylor & Francis, 2015
Keywords
cost of capital, marginal effective tax rates, marginal tax wedges, tax reforms
National Category
Economics
Research subject
Economics
Identifiers
urn:nbn:se:oru:diva-41172 (URN)10.1080/03585522.2014.980314 (DOI)000210594500004 ()2-s2.0-84929607209 (Scopus ID)
Projects
Det svenska skattesystemets historiska utveckling, 1862 och framåt
Available from: 2015-01-13 Created: 2015-01-13 Last updated: 2017-09-27Bibliographically approved
Du Rietz, G., Johansson, D. & Stenkula, M. (2015). Swedish capital income taxation (1862–2013). In: Magnus Henrekson and Mikael Stenkula (Ed.), Swedish taxation: developments since 1862 (pp. 123-178). Basingstoke: Palgrave Macmillan
Open this publication in new window or tab >>Swedish capital income taxation (1862–2013)
2015 (English)In: Swedish taxation: developments since 1862 / [ed] Magnus Henrekson and Mikael Stenkula, Basingstoke: Palgrave Macmillan, 2015, p. 123-178Chapter in book (Refereed)
Place, publisher, year, edition, pages
Basingstoke: Palgrave Macmillan, 2015
National Category
Economics
Research subject
Economics
Identifiers
urn:nbn:se:oru:diva-55137 (URN)2-s2.0-84960313404 (Scopus ID)9781137478146 (ISBN)9781137478153 (ISBN)
Available from: 2017-02-01 Created: 2017-02-01 Last updated: 2018-09-04Bibliographically approved
Organisations
Identifiers
ORCID iD: ORCID iD iconorcid.org/0000-0002-5610-8526

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