TITLE

¿DETERMINA LA PROPIEDAD FAMILIAR DIFERENCIAS EN LAS RELACIONES ENTRE PREFERENCIAS, COMPORTAMIENTO Y RESULTADOS EN LAS EMPRESAS ESPAÑOLAS COTIZADAS?

AUTHOR(S)
GALVE-GÓRRIZ, CARMEN; SALAS-FUMÁS, VICENTE
PUB. DATE
December 2011
SOURCE
Revista de Economía Aplicada;2011, Vol. 19 Issue 57, p5
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This paper investigates the differences in behaviour and performance between family and non-family owned Spanish firms listed on the stock market. The general hypothesis of this paper is that strong preferences to maintain control of the company within the family restrict the decision for the maximisation of profits of family companies so that, in competitive markets, the economic viability of the family firm is conditioned to reach a higher level of productive efficiency than the non-family firm. The empirical evidence in the Spanish case shows that family firms operate under a restriction of size and produce more efficiently but, finally, obtain similar economic profits to non-family firms.
ACCESSION #
70139303

 

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