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Multiple Blockholder Structures and Family Firm Performance

Fattoum-Guedri, Asma; Guedri, Zied and Delmar, Frédéric LU (2018) In Entrepreneurship Theory and Practice 42(2). p.231-251
Abstract
This study examines how multiple blockholder structures affect family firm performance. Building on arguments from both principal–principal agency and familiness perspectives, we suggest that asymmetrical distribution of voting power among family and nonfamily blockholders hurts firm performance. Further, we suggest that the larger the number of blockholder types, the stronger the negative effect of voting-power asymmetry among family and nonfamily blockholders on firm performance. We provide empirical support for our hypotheses using a longitudinal sample of 413 French family firms over the 1992–2012 period.
Please use this url to cite or link to this publication:
author
organization
publishing date
type
Contribution to journal
publication status
published
subject
keywords
family business, blockholders, principal-principal agency costs, familiness
in
Entrepreneurship Theory and Practice
volume
42
issue
2
pages
21 pages
publisher
Wiley-Blackwell
external identifiers
  • scopus:85047668036
ISSN
1042-2587
DOI
10.1177/1042258717748652
language
English
LU publication?
yes
id
26bcabfd-c232-4a1d-9cf6-27ee8db0acc0
date added to LUP
2018-02-26 08:47:12
date last changed
2018-06-17 05:30:44
@article{26bcabfd-c232-4a1d-9cf6-27ee8db0acc0,
  abstract     = {This study examines how multiple blockholder structures affect family firm performance. Building on arguments from both principal–principal agency and familiness perspectives, we suggest that asymmetrical distribution of voting power among family and nonfamily blockholders hurts firm performance. Further, we suggest that the larger the number of blockholder types, the stronger the negative effect of voting-power asymmetry among family and nonfamily blockholders on firm performance. We provide empirical support for our hypotheses using a longitudinal sample of 413 French family firms over the 1992–2012 period.},
  author       = {Fattoum-Guedri, Asma and Guedri, Zied  and Delmar, Frédéric},
  issn         = {1042-2587},
  keyword      = {family business,blockholders,principal-principal agency costs,familiness},
  language     = {eng},
  number       = {2},
  pages        = {231--251},
  publisher    = {Wiley-Blackwell},
  series       = {Entrepreneurship Theory and Practice},
  title        = {Multiple Blockholder Structures and Family Firm Performance},
  url          = {http://dx.doi.org/10.1177/1042258717748652},
  volume       = {42},
  year         = {2018},
}