Market opportunities and owner identity: Are family firms different?
作者： Marco Cucculelli , Francesco Marchionne
DOI: 10.1016/J.JCORPFIN.2012.02.001
关键词:
摘要: Abstract We test the hypothesis that ownership of a firm does not affect firm's ability to seize market opportunities once decisions about productive structure are taken into account. By grouping firms in size clusters having similar distance between actual and optimal size, we assess how sensitivity sales demand changes response differences owner's identity. use data from panel 4696 continental western European over period 1995–2010 Eurostat 3-digit sectoral on distribution. Empirical evidence rejects irrelevance: family less sensitive than other firms, particular when is larger case both founder- heir-run firms.
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