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The Characteristics of Family Firms: Exploiting Information on Ownership, Kinship and Governance Using Total Population Data
Örebro universitet, Handelshögskolan vid Örebro Universitet. SCB, Stockholm, Sweden. (Företagandet och företagens villkor)
Örebro universitet, Handelshögskolan vid Örebro Universitet. HUI Research, Stockholm, Sweden. (Företagandet och företagandets villkor)ORCID-id: 0000-0002-5610-8526
Örebro universitet, Handelshögskolan vid Örebro Universitet. (Företagandet och företagens villkor)ORCID-id: 0000-0001-5457-1915
Örebro universitet, Handelshögskolan vid Örebro Universitet. Ratio, Stockholm, Sweden. (Företagandet och företagens villkor)ORCID-id: 0000-0003-0149-9598
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2018 (Engelska)Ingår i: Small Business Economics, ISSN 0921-898X, E-ISSN 1573-0913, Vol. 51, nr 3, s. 539-556Artikel i tidskrift (Refereegranskat) 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.

Ort, förlag, år, upplaga, sidor
Kluwer Academic/Plenum Publishers , 2018. Vol. 51, nr 3, s. 539-556
Nyckelord [en]
Entrepreneur, Family firms, Employment, GDP, Register data
Nationell ämneskategori
Nationalekonomi
Forskningsämne
Nationalekonomi
Identifikatorer
URN: urn:nbn:se:oru:diva-61172DOI: 10.1007/s11187-017-9947-6ISI: 000443439100003Scopus ID: 2-s2.0-85030325971OAI: oai:DiVA.org:oru-61172DiVA, id: diva2:1145142
Projekt
Familjeföretagandets betydelse
Forskningsfinansiär
Jan Wallanders och Tom Hedelius stiftelseTillväxtverketTillgänglig från: 2017-09-28 Skapad: 2017-09-28 Senast uppdaterad: 2020-03-03Bibliografiskt granskad
Ingår i avhandling
1. Essays on Family Firms and Firm Growth Barriers
Öppna denna publikation i ny flik eller fönster >>Essays on Family Firms and Firm Growth Barriers
2020 (Engelska)Doktorsavhandling, sammanläggning (Övrigt vetenskapligt)
Abstract [en]

This thesis concerns the implications of family ownership and perceived growth barriers for firm decision-making and performance. The first article examines the inclusion of family business in economics doctoral programs in the United States and Sweden, as well as the views of professors and textbook authors and research on family business. It is found that family business is not included in the examined curricula. Furthermore, professors and authors do not publish research on family business and generally do not see a need to incorporate it into economic theory. The article concludes by discussing the causes of this omission, as well as strategies to overcome them in order to further our understanding of economic action. The second article presents a novel strategy for identifying domiciled family firms using total population data. By applying this strategy to Swedish data, family firms are found to contribute to one-third of Swedish employment and gross domestic product, and a significant share of Sweden’s largest firms are family-owned. In general, family firms are found to be smaller than their non-family equivalents, although they are more profitable. Meanwhile, differences between family firms and nonfamily firms are found to diminish with firm size. The third article examines whether family firms have a comparative employment growth advantage over nonfamily firms in regions with relatively low population density. As a group, family firms are found to be the main source of job creation in rural regions, largely as a result of their large numbers. Nevertheless, the average family firm is found to grow more slowly than the average non-family firm. Meanwhile, in line with the study’s conjecture, this difference is found to decrease across the urban-rural context, i.e., across metropolitan, urban and rural regions. The fourth paper examines the representation of women in top management teams1 in family firms and non-family firms. Moreover, the share of women in a firm’s top management team is found to be positively associated with the additional appointment of female managers. Lastly, kinship bonds between the owning families and prospective managers are found to be positively associated with the appointment of women on top management teams. The fifth paper aims to capture the relationship between perceived growth barriers and firm size, which is achieved by developing a novel data-driven strategy for identifying firm size groups. It is found that smaller firms typically face accessibility constraints on equity financing, whereas larger firms generally face barriers related to competition and accessibility to qualified staff. These results are benchmarked against those using prevailing strategies for measuring firm size, whereby it is suggested that there may be a need for methodological rethinking in the field regarding its treatment of firm size.

Ort, förlag, år, upplaga, sidor
Örebro: Örebro University, 2020. s. 48
Serie
Örebro Studies in Economics, ISSN 1651-8896 ; 43
Nyckelord
entrepreneurship, family firm, family ownership, firm growth, institutions, perceived growth barriers
Nationell ämneskategori
Nationalekonomi
Identifikatorer
urn:nbn:se:oru:diva-80222 (URN)978-91-7529-325-7 (ISBN)
Disputation
2020-04-03, Örebro universitet, Hörsalen, Musikhögskolan, Fakultetsgatan 1, Örebro, 13:15 (Engelska)
Opponent
Handledare
Tillgänglig från: 2020-02-27 Skapad: 2020-02-27 Senast uppdaterad: 2020-03-03Bibliografiskt granskad

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Andersson, FredrikJohansson, DanKarlsson, JohanLodefalk, MagnusPoldahl, Andreas

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