Family management and firm performance : moderating effects of professional CEOs

The purpose of this study is to investigate the effect of family-managed firms on firm performance based on the market performance for public firms listed on the Singapore Stock Exchange (SGX). Using a sample data of 530 SGX-listed firms from prospectuses and annual reports from Osiris, as well as B...

وصف كامل

محفوظ في:
التفاصيل البيبلوغرافية
المؤلفون الرئيسيون: Cheong, Angelina, Chua, Ming Jie, Chua, Yvonne
مؤلفون آخرون: Kang Soon Lee, Eugene
التنسيق: Final Year Project
اللغة:English
منشور في: Nanyang Technological University 2010
الموضوعات:
الوصول للمادة أونلاين:http://hdl.handle.net/10356/21230
الوسوم: إضافة وسم
لا توجد وسوم, كن أول من يضع وسما على هذه التسجيلة!
المؤسسة: Nanyang Technological University
اللغة: English
الوصف
الملخص:The purpose of this study is to investigate the effect of family-managed firms on firm performance based on the market performance for public firms listed on the Singapore Stock Exchange (SGX). Using a sample data of 530 SGX-listed firms from prospectuses and annual reports from Osiris, as well as Bloomberg, we obtained 996 observations for both fiscal years 2005 and 2006. Firstly, we looked into the association between family-managed firms and firm performance. Secondly, we looked into whether the presence of a professional Chief Executive Officer (CEO) has any moderating effect on the association between family-managed firms and firm performance. Our results indicated that the proportion of family members on the board has a marginal negative association with firm performance. We also found a marginally significant interaction effect where the presence of a professional CEO lowers the strength of the negative association between the proportion of family members on the board and firm performance.