Multi-Founding Family Firms: Effects on Firm Governance, Innovation, and Performance

IF 7.8 1区管理学 Q1 BUSINESS

Entrepreneurship Theory and Practice Pub Date : 2024-09-27 DOI:10.1177/10422587241279945

So-Yeon Lim, Seung-Hwan Jeong

引用次数: 0

Abstract

Traditionally, family firm studies have assumed there is a single family behind the firm. We challenge this assumption and argue that the distinction between multi-founding family firms and single-founding family firms matters. We theorize that multi-founding family firms, based on mutual monitoring among families, have corporate governance advantages (less principal–agent and principal–principal problems) in terms of reduced founder CEO entrenchment and a lower probability of descendent leadership. Furthermore, we argue that multi-founding family firms exhibit higher levels of innovation and performance. Based on U.S. firms during 2001 to 2010, we find robust support for our arguments.

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多创始人家族企业：对公司治理、创新和绩效的影响

传统上，家族企业研究假定企业背后只有一个家族。我们对这一假设提出了质疑，并认为多创始人家族企业与单创始人家族企业之间的区别非常重要。我们认为，基于家族间的相互监督，多创始人家族企业在公司治理方面具有优势（委托代理和委托人与委托人之间的问题较少），可以减少创始人首席执行官的固化，降低后代领导的可能性。此外，我们还认为，多创始人家族企业表现出更高水平的创新和绩效。基于 2001 年至 2010 年期间的美国公司，我们发现我们的论点得到了强有力的支持。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Entrepreneurship Theory and Practice BUSINESS-

CiteScore

19.00

自引率

12.40%

发文量

期刊介绍： Entrepreneurship Theory and Practice (ETP) is an interdisciplinary scholarly journal dedicated to conceptual and empirical research that advances, tests, or extends theory relating to entrepreneurship in its broadest sense. Article Topics: Topics covered in ETP include, but are not limited to: New Venture Creation, Development, Growth, and Performance Characteristics, Behaviors, and Types of Entrepreneurs Small Business Management Family-Owned Businesses Corporate, Social, and Sustainable Entrepreneurship National and International Studies of Enterprise Creation Research Methods in Entrepreneurship Venture Financing Content: The journal publishes articles that explore these topics through rigorous theoretical development, empirical analysis, and methodological innovation. ETP serves as a platform for advancing our understanding of entrepreneurship and its implications for individuals, organizations, and society.