Family firms and labor market regulation

We investigate whether labor market regulation affects the performance difference between family and non-family firms across a large panel of more than 6,900 firms in 28 countries over 10 years. We establish two main results: family firms have a performance advantage over non-family firms in countri...

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Main Authors: BENNEDSEN, Morten, HUANG, Sterling, WAGNER, Hannes F., ZUEME, Stefan
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Language:English
Published: Institutional Knowledge at Singapore Management University 2014
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Online Access:https://ink.library.smu.edu.sg/soa_research/1742
https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=2769&context=soa_research
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spelling sg-smu-ink.soa_research-27692020-04-17T07:18:00Z Family firms and labor market regulation BENNEDSEN, Morten HUANG, Sterling WAGNER, Hannes F. ZUEME, Stefan We investigate whether labor market regulation affects the performance difference between family and non-family firms across a large panel of more than 6,900 firms in 28 countries over 10 years. We establish two main results: family firms have a performance advantage over non-family firms in countries with less regulated labor markets, and the performance advantage of being family-controlled in countries with lower regulation is less pronounced in industries with high labor intensity and high labor volatility. These results are robust to matching and using a survey-based instrument for family control. Our results suggest that family control and labor market regulation to some extent are substitute governance mechanisms. 2014-10-01T07:00:00Z text application/pdf https://ink.library.smu.edu.sg/soa_research/1742 https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=2769&context=soa_research http://creativecommons.org/licenses/by-nc-nd/4.0/ Research Collection School Of Accountancy eng Institutional Knowledge at Singapore Management University Family firms Labor market regulation Accounting
institution Singapore Management University
building SMU Libraries
country Singapore
collection InK@SMU
language English
topic Family firms
Labor market regulation
Accounting
spellingShingle Family firms
Labor market regulation
Accounting
BENNEDSEN, Morten
HUANG, Sterling
WAGNER, Hannes F.
ZUEME, Stefan
Family firms and labor market regulation
description We investigate whether labor market regulation affects the performance difference between family and non-family firms across a large panel of more than 6,900 firms in 28 countries over 10 years. We establish two main results: family firms have a performance advantage over non-family firms in countries with less regulated labor markets, and the performance advantage of being family-controlled in countries with lower regulation is less pronounced in industries with high labor intensity and high labor volatility. These results are robust to matching and using a survey-based instrument for family control. Our results suggest that family control and labor market regulation to some extent are substitute governance mechanisms.
format text
author BENNEDSEN, Morten
HUANG, Sterling
WAGNER, Hannes F.
ZUEME, Stefan
author_facet BENNEDSEN, Morten
HUANG, Sterling
WAGNER, Hannes F.
ZUEME, Stefan
author_sort BENNEDSEN, Morten
title Family firms and labor market regulation
title_short Family firms and labor market regulation
title_full Family firms and labor market regulation
title_fullStr Family firms and labor market regulation
title_full_unstemmed Family firms and labor market regulation
title_sort family firms and labor market regulation
publisher Institutional Knowledge at Singapore Management University
publishDate 2014
url https://ink.library.smu.edu.sg/soa_research/1742
https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=2769&context=soa_research
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