(FOWN), board independence (IND), board size (BSIZE), firm size (FSIZE), firm age (AGE), and the extent of diversification pursued by the firm (NSEG) were as previously defined, and YEAR was a vector of dummy variables representing the years 2004 to 2014.
This study focuses on family ownership
where the interaction of business strategy and agency cost can influence financial performance.
Family owned firms represent those firms having 50% or more family ownership
. Family controlled firms represent those firms whose ultimate control is with a family.
Second, we not only compare family with non-family firms but also disentangle the incentive and entrenchment effects of family ownership
by including nonlinearity in our models.
Therefore, an exploratory study is important on the SMEs to investigate the relationship between family ownership
, foreign ownership, outside board of directors, firm performance and innovation variables in developing countries.
Surprisingly, family firms spent less on research and development (we observed a negative relationship between family ownership
and R&D input) but were significantly more efficient with what they did invest in this area, when measuring R&D spending against patent output.
* There is a significant relationship between family ownership
and financial information transparency level of firms.
The authors study the work habits of 356 CEOs in the Indian manufacturing sector, where family ownership
is common and productivity among firms varies markedly.
Persistent family ownership
represents a long-term loyalty to influence the firm.
Roughly four months later BDP again reiterated that a sale is not in the works, with the company saying in August it has reached a decision to retain full family ownership
of the company.
Experience a sweet taste of history Magnificent home due to pass out of a famous family ownership
Pages 4-5 Leap of faith paying off in country living Negelcted plot becomes modern family properties Pages 6-7 Hi-tech leisure area in the basement Grade II listed Georgian home Page 18 Ready to move into Excellently refurbished farmhouse Page 19 Looks can be deceptive Three properties in one at auction Page 24 Property Expert Short-term gains may lead to long-term losses Pages 26 POST PROPERTY correspondent is Alison Jones Email: firstname.lastname@example.org Tel: 0121 234 5028 Advertising: Richard Sharman.