scholarly journals FAMILY FIRM PERFORMANCE OVER THE BUSINESS CYCLE: A META‐ANALYSIS

2020 ◽  
Vol 34 (3) ◽  
pp. 476-511 ◽  
Author(s):  
Christopher Hansen ◽  
Joern Block ◽  
Matthias Neuenkirch
Keyword(s):  
Firm Performance ◽  
Business Cycle ◽  
Meta Analysis ◽  
Family Firm ◽  
The Business Cycle

A meta-analytic examination of the relationship between family firm generational involvement and performance

2020 ◽  
Vol 43 (8) ◽  
pp. 971-987
Author(s):  
Vasiliki Kosmidou
Keyword(s):  
Firm Performance ◽  
Family Firms ◽  
Meta Analysis ◽  
Negative Relationship ◽  
Family Firm ◽  
Negative Effects ◽  
Content Type ◽  
Universal Family ◽  
And Performance ◽  
The Relationship

Purpose The purpose of this paper is to examine the relationship between family firm generational involvement and performance. Although researchers have studied this relationship extensively, a complete understanding of its true magnitude and sign is still lacking. Design/methodology/approach This meta-analysis sheds new light on this relationship, integrating the findings of 43 studies with 51 independent samples and 18,802 family firms. Findings The results reveal a small and negative relationship indicating that later-generation family firms perform worse compared to first-generation ones. The authors also show that the relationship is stronger for younger than older and for private than public firms. Finally, the measurements of both variables influence the relationship yielding critical research implications. Research limitations/implications This study suggests that future researchers examining the effects of generational involvement on family firm performance should conduct their analysis using multiple measures of both variables to ensure the accuracy of their results. It also highlights the need of family business scholars to converge to the use of a universal family firm definition, as findings differ significantly in strength and direction depending on which definition is used. Practical implications From a practitioners’ perspective, the findings imply that owners of young and private family firms should consider professionalizing and adopting a balanced top management team composition consisting of both family and non-family members as a way to mitigate the negative effects of “familiness” on performance. Originality/value This study empirically demonstrates the importance of adopting a generational perspective when examining differences in family firm performance.

The Effect of CEOs’ Overconfidence on Firm Performance Along the Business Cycle

2019 ◽  
Vol 2019 (1) ◽  
pp. 14862
Author(s):  
Tomas Reyes ◽  
Roberto Vassolo ◽  
Diamela Torres Peña
Keyword(s):  
Firm Performance ◽  
Business Cycle ◽  
The Business Cycle

(A)Void Suffering from Instability: A Meta-Analysis on Family Firm Performance

2020 ◽  
Vol 2020 (1) ◽  
pp. 14072
Author(s):  
Todor Stefan Lohwasser ◽  
Felix Hoch ◽  
Franz Kellermanns
Keyword(s):  
Firm Performance ◽  
Meta Analysis ◽  
Family Firm

Does overconfidence pay off when things go well? CEO overconfidence, firm performance, and the business cycle

2020 ◽  
pp. 147612702093065
Author(s):  
Tomas Reyes ◽  
Roberto S Vassolo ◽  
Edgar E Kausel ◽  
Diamela Peña Torres ◽  
Stephen Zhang
Keyword(s):  
Firm Performance ◽  
Business Cycle ◽  
Great Recession ◽  
Positive Relationship ◽  
Positive Impact ◽  
Return On Equity ◽  
The Great Recession ◽  
The Business Cycle ◽  
Positive Effect ◽  
Dot Com

We investigate the moderating effect of the business cycle on the positive relationship between CEO overconfidence and firm performance. We propose that the expansion years of the business cycle enhance the positive impact of overconfident CEOs on firms’ performance. However, this effect is reduced during recession periods. We analyze the effect of CEO overconfidence on the Return on Equity of publicly listed US firms from 1992 to 2015, a period that includes the bursting of the dot-com bubble in 2001 and the Great Recession of 2008–2009. The empirical findings support the hypotheses that expansion periods increase the positive relationship between overconfident CEOs and firms’ performance, but this positive effect weakens during recessions.

Internationalization and family firm performance

2020 ◽  
Vol 27 (1) ◽  
pp. 1-25
Author(s):  
Bart J. Debicki ◽  
Chao Miao ◽  
Shanshan Qian
Keyword(s):  
Firm Performance ◽  
Family Firms ◽  
Meta Analysis ◽  
Family Firm ◽  
Future Research ◽  
Content Type ◽  
Potential Impact ◽  
The Impact ◽  
Positive Effect

Purpose The purpose of this paper is to evaluate the effect of internationalization on performance in family firms, as well as the potential impact of moderators on this relationship. Design/methodology/approach This paper is a meta-analysis of the impact of internationalization on performance in family firms, as well as the role of several moderators shaping this relationship, based on 29 studies. Findings The findings indicate a significant positive effect of internationalization on family firm performance. This relationship was stronger in family firms with lower family ownership. Several methodological moderators were significant, such as the means of measuring performance and internationalization. The results also point to several cultural moderators, such as individualism, masculinity, low uncertainty avoidance and short-term orientation, which positively influence the main effect. Originality/value The authors provide discussions of the results, their practical and theoretical implications, as well as avenues for future research.

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