Three essays on family firms
The paper shows the higher valuation of family firms occurs only for family firms founded by several non-related people (multi-family cofounding firms), particularly founder controlled multi-family cofounding firms. The evidence suggests that having at least two unrelated cofounders involved in m...
| Main Author: | |
|---|---|
| Other Authors: | |
| Format: | Thesis |
| Language: | English |
| Published: |
2018
|
| Subjects: | |
| Online Access: | http://hdl.handle.net/10356/73179 |
| _version_ | 1826130370822668288 |
|---|---|
| author | Lim, So-Yeon |
| author2 | Stephen G. Dimmock |
| author_facet | Stephen G. Dimmock Lim, So-Yeon |
| author_sort | Lim, So-Yeon |
| collection | NTU |
| description | The paper shows the higher valuation of family firms occurs only for family
firms founded by several non-related people (multi-family cofounding firms),
particularly founder controlled multi-family cofounding firms. The evidence
suggests that having at least two unrelated cofounders involved in management
reduces agency problems through mutual monitoring, reducing the number of
shareholder proposals and serving as a substitute for other governance
mechanisms. Relative to single-family founding firms, multi-family cofounding
firms are more likely to force out founders and less likely to allow descendants
to take control after founders retire. |
| first_indexed | 2024-10-01T07:55:22Z |
| format | Thesis |
| id | ntu-10356/73179 |
| institution | Nanyang Technological University |
| language | English |
| last_indexed | 2024-10-01T07:55:22Z |
| publishDate | 2018 |
| record_format | dspace |
| spelling | ntu-10356/731792024-01-12T10:29:33Z Three essays on family firms Lim, So-Yeon Stephen G. Dimmock Nanyang Business School DRNTU::Business::Finance The paper shows the higher valuation of family firms occurs only for family firms founded by several non-related people (multi-family cofounding firms), particularly founder controlled multi-family cofounding firms. The evidence suggests that having at least two unrelated cofounders involved in management reduces agency problems through mutual monitoring, reducing the number of shareholder proposals and serving as a substitute for other governance mechanisms. Relative to single-family founding firms, multi-family cofounding firms are more likely to force out founders and less likely to allow descendants to take control after founders retire. Doctor of Philosophy (NBS) 2018-01-12T01:40:24Z 2018-01-12T01:40:24Z 2018 Thesis Lim, S.-Y. (2018). Three essays on family firms. Doctoral thesis, Nanyang Technological University, Singapore. http://hdl.handle.net/10356/73179 10.32657/10356/73179 en 132 p. application/pdf |
| spellingShingle | DRNTU::Business::Finance Lim, So-Yeon Three essays on family firms |
| title | Three essays on family firms |
| title_full | Three essays on family firms |
| title_fullStr | Three essays on family firms |
| title_full_unstemmed | Three essays on family firms |
| title_short | Three essays on family firms |
| title_sort | three essays on family firms |
| topic | DRNTU::Business::Finance |
| url | http://hdl.handle.net/10356/73179 |
| work_keys_str_mv | AT limsoyeon threeessaysonfamilyfirms |