EconPapers    
Economics at your fingertips  
 

Too much of a good thing: Family involvement and the survival of listed Korean firms

Jaeyoung Cho, Danny Miller and Jangwoo Lee

Journal of Family Business Strategy, 2018, vol. 9, issue 4, 223-237

Abstract: There is a quandary facing many family businesses: namely, that although initially positive for firm survival, beyond a certain level of family ownership, family involvement in ownership and/or management may threaten firm survival, especially under later generation family CEOs. We argue and find in a study of listed Korean firms that a balance between family and public ownership enhances firm survival. Under balanced ownership both types of owners can prevent one another’s excesses. Moreover, the negatives of too much family ownership are accentuated when there are family CEOs, particularly in post-founder generations.

Keywords: Family firm governance; Family involvement; Firm survival; Agency costs; Listed korean firms (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1877858518301682
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:fambus:v:9:y:2018:i:4:p:223-237

Ordering information: This journal article can be ordered from
http://www.elsevier.com/wps/find/journaldescription.cws_home/719791/bibliographic
http://www.elsevier. ... 719791/bibliographic

Access Statistics for this article

Journal of Family Business Strategy is currently edited by J.H. Astrachan

More articles in Journal of Family Business Strategy from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().

 
Page updated 2019-01-19
Handle: RePEc:eee:fambus:v:9:y:2018:i:4:p:223-237