Family ownership (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: alison.jones@trinitymirror.com Tel: 0121 234 5028 Advertising: Richard Sharman.