IMPACTO DE LA IMPLICACIÓN FAMILIAR Y DE OTROS ACCIONISTAS DE REFERENCIA EN LA CREACIÓN DE VALOR
This study explores the effects of different levels of family ownership and involvement on family firms' value. The sample used was built from an international database (Bureau Van Dijk) with listed firms from 15 European Union countries for the period 2004-05. Results show that family who sits...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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Facultad de Ciencias Sociales y Jurídicas, Universidad de Jaén
2009-12-01
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| Series: | Revista de Estudios Empresariales. Segunda Época |
| Subjects: | |
| Online Access: | http://revistaselectronicas.ujaen.es/index.php/REE/article/view/324 |
| _version_ | 1818493916689727488 |
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| author | Mª Jesús Nieto Sánchez Zulima Fernández Rodríguez Mª José Casasola Martínez Belén Usero Sánchez |
| author_facet | Mª Jesús Nieto Sánchez Zulima Fernández Rodríguez Mª José Casasola Martínez Belén Usero Sánchez |
| author_sort | Mª Jesús Nieto Sánchez |
| collection | DOAJ |
| description | This study explores the effects of different levels of family ownership and involvement on family firms' value. The sample used was built from an international database (Bureau Van Dijk) with listed firms from 15 European Union countries for the period 2004-05. Results show that family who sits in the board creates value. On the other hand, those family firms managed by a founder-descendant destroy firm value, while no significant effect was found for founder managed firms. Finally, the existence of other blockholders jointly with the family ownership moderates the relationship between family firm and performance: mutual and pension funds contribute to create value, whereas other companies as the second blockholders destroy value. |
| first_indexed | 2024-12-10T18:00:05Z |
| format | Article |
| id | doaj.art-2e44e741494944c88f606c9f2432dc41 |
| institution | Directory Open Access Journal |
| issn | 0213-8964 1988-9046 |
| language | English |
| last_indexed | 2024-12-10T18:00:05Z |
| publishDate | 2009-12-01 |
| publisher | Facultad de Ciencias Sociales y Jurídicas, Universidad de Jaén |
| record_format | Article |
| series | Revista de Estudios Empresariales. Segunda Época |
| spelling | doaj.art-2e44e741494944c88f606c9f2432dc412022-12-22T01:38:48ZengFacultad de Ciencias Sociales y Jurídicas, Universidad de JaénRevista de Estudios Empresariales. Segunda Época0213-89641988-90462009-12-012Número 2/2009, Época 2520IMPACTO DE LA IMPLICACIÓN FAMILIAR Y DE OTROS ACCIONISTAS DE REFERENCIA EN LA CREACIÓN DE VALORMª Jesús Nieto SánchezZulima Fernández RodríguezMª José Casasola MartínezBelén Usero SánchezThis study explores the effects of different levels of family ownership and involvement on family firms' value. The sample used was built from an international database (Bureau Van Dijk) with listed firms from 15 European Union countries for the period 2004-05. Results show that family who sits in the board creates value. On the other hand, those family firms managed by a founder-descendant destroy firm value, while no significant effect was found for founder managed firms. Finally, the existence of other blockholders jointly with the family ownership moderates the relationship between family firm and performance: mutual and pension funds contribute to create value, whereas other companies as the second blockholders destroy value.http://revistaselectronicas.ujaen.es/index.php/REE/article/view/324Family firmvalue creationblockholders |
| spellingShingle | Mª Jesús Nieto Sánchez Zulima Fernández Rodríguez Mª José Casasola Martínez Belén Usero Sánchez IMPACTO DE LA IMPLICACIÓN FAMILIAR Y DE OTROS ACCIONISTAS DE REFERENCIA EN LA CREACIÓN DE VALOR Revista de Estudios Empresariales. Segunda Época Family firm value creation blockholders |
| title | IMPACTO DE LA IMPLICACIÓN FAMILIAR Y DE OTROS ACCIONISTAS DE REFERENCIA EN LA CREACIÓN DE VALOR |
| title_full | IMPACTO DE LA IMPLICACIÓN FAMILIAR Y DE OTROS ACCIONISTAS DE REFERENCIA EN LA CREACIÓN DE VALOR |
| title_fullStr | IMPACTO DE LA IMPLICACIÓN FAMILIAR Y DE OTROS ACCIONISTAS DE REFERENCIA EN LA CREACIÓN DE VALOR |
| title_full_unstemmed | IMPACTO DE LA IMPLICACIÓN FAMILIAR Y DE OTROS ACCIONISTAS DE REFERENCIA EN LA CREACIÓN DE VALOR |
| title_short | IMPACTO DE LA IMPLICACIÓN FAMILIAR Y DE OTROS ACCIONISTAS DE REFERENCIA EN LA CREACIÓN DE VALOR |
| title_sort | impacto de la implicacion familiar y de otros accionistas de referencia en la creacion de valor |
| topic | Family firm value creation blockholders |
| url | http://revistaselectronicas.ujaen.es/index.php/REE/article/view/324 |
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