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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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 |
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Family firms Labor market regulation Accounting BENNEDSEN, Morten HUANG, Sterling WAGNER, Hannes F. ZUEME, Stefan Family firms and labor market regulation |
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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. |
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BENNEDSEN, Morten HUANG, Sterling WAGNER, Hannes F. ZUEME, Stefan |
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BENNEDSEN, Morten HUANG, Sterling WAGNER, Hannes F. ZUEME, Stefan |
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BENNEDSEN, Morten |
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Family firms and labor market regulation |
title_short |
Family firms and labor market regulation |
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Family firms and labor market regulation |
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Family firms and labor market regulation |
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Family firms and labor market regulation |
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family firms and labor market regulation |
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Institutional Knowledge at Singapore Management University |
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2014 |
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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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