Rate of Failure of Czech Family Firms

Míra úpadků českých rodinných firem

Ondřej Machek and Tomáš Pokorný

Acta Oeconomica Pragensia, 2016, vol. 2016, issue 3, 24-34

Abstract: Family business is becoming a promising area of research in post-socialist countries, including the Czech Republic. Stability belongs to frequently cited properties of family firms. The goal of this article is to test the hypothesis whether family firms tend to have a lower rate of failure than their non-family counterparts. Using a sample of 1148 family and 5972 non-family firms in the Czech Republic, we find that there is no significant relationship between family involvement and rate of failure. A possible greater stability of family businesses is not necessarily linked with a lower rate of bankruptcy. We also discuss possible reasons and policy implications.

Keywords: family business; bankruptcy; failure; Czech Republic (search for similar items in EconPapers)
JEL-codes: L26 M10 (search for similar items in EconPapers)
Date: 2016
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DOI: 10.18267/j.aop.534

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