An Empirical Examination of Ownership Structure in Family and Professionally Managed Firms

Family Business Review - Tập 5 Số 2 - Trang 117-136 - 1992
Catherine M. Daily1, Marc Dollinger2
1Assistant professor of strategic management at the Ohio State University College of Business.
2Associate professor in the Department of Management at the Indiana University Graduate School of Business.

Tóm tắt

The literature applying agency theory to management has focused on the performance advantages to be gained when ownership and control of the firm are aligned. This article investigates that premise by comparing family-owned and -managed and professionally managed firms. The article presents the results of a field survey that examined the extent to which family-owned and -managed firms differ across structural, process, and performance dimensions from their professionally managed counterparts. Significant differences exist between these two groups on both structural and process dimensions, and there is evidence that family-owned and -managed firms exhibit performance advantages as a result of the unification of ownership and control.

Từ khóa


Tài liệu tham khảo

Alcorn, P. B., 1982, Success and Survival in the Family-Owned Business

10.1177/104225879001400204

Baumol, W., 1959, Business Behavior, Value and Growth

10.1177/014920638701300108

Berle, A. A., 1932, The Modern Corporation and Private Property

Brady, G. F., 1984, Executive Succession: Toward Excellence in Corporate Leadership

Burnham, J., 1941, The Managerial Revolution

10.1002/smj.4250090106

10.2307/255956

10.1177/001316446002000104

Crystal, G. S., 1990, Fortune, 94

10.2307/2232797

10.5465/amr.1988.4306873

10.1177/001979398804100204

10.1111/j.1467-6486.1973.tb00499.x

10.1086/467041

10.1086/261354

10.2307/255929

Dyer, W. G., Jr., 1986, Cultural Change in Family Firms: Anticipating and Managing Business and Family Transitions

10.1111/j.1741-6248.1989.00221.x

10.5465/amr.1989.4279003

10.2307/2330065

10.1086/260866

10.1086/467037

10.1086/467038

10.1002/smj.4250100203

Flamholtz, E. G., 1986, How to Make the Transition from Entrepreneurship to a Professionally Managed Firm

Galbraith, J. K., 1967, The New Industrial State

10.2307/2393175

10.2307/255895

Hall, P. D., 1986, Family Structure and Economic Organization: Massachusetts Merchants, 1700-1850.” Paper presented at the Wharton Family Business Conference

1988, Harris Indiana Industrial Directory

10.2307/256418

10.1016/0007-6813(84)90004-1

Humpal, J., 1981, Comparative Management Systems: The Case of the Threshold Firm.” Working paper

Jensen, M., 1989, Harvard Business Review, 61

10.1016/0304-405X(76)90026-X

10.1016/0007-6813(89)90035-9

10.1177/104225878200700111

Kirchhoff, B. A., 1987, Journal of Small Business Management, 25, 25

Krause, D. S., 1988, Akron Business and Economic Review, 19, 30

Lansberg, I., 1988, Family Business Review, 1, 1, 10.1111/j.1741-6248.1988.00001.x

Larner, R. J., 1970, Management Control and the Large Corporation

Levinson. J., 1971, Harvard Business Review, 49, 90

10.1111/j.1465-7295.1976.tb00393.x

10.1002/smj.4250080403

Melloan, G., 1989, Wall Street Journal

Miles, R. E., 1978, Organizational Strategy, Structure, and Process

10.5465/amr.1988.4306868

Peterson, R. A., 1986, Journal of Small Business Management, 63

Poe, R., 1980, Across the Board-The Conference Board Magazine, 23

10.2307/2391361

Rosenblatt, P. C, 1985, The Family in Business: Understanding and Dealing with the Challenges Entrepreneurial Families Face

Schein, E. H., 1968, Industrial Management Review, 9, 1

Scott, W. R., 1981, Organizations: Rational, Natural, and Open Systems

Sexton, D., 1982, Journal of Small Business Management, 20

10.5465/amr.1988.4307484

10.1002/smj.4250090602

10.2307/256224

10.1111/j.1741-6248.1989.tb00004.x

10.2307/3003279

Ward, J. L., 1987, Keeping the Family Business Healthy: How to Plan for Continuing Growth, Profitability, and Family Leadership

Ward J. L, 1990, Nation's Business, 78, 63

10.1111/j.1741-6248.1988.00289.x

10.2307/255568

Whisler, T. L., 1988, Family Business Review, 61, 143

Williamson, O. E., 1981, Journal of Economic Literature, 19, 1537

10.1002/smj.4250110304