Multiple Blockholder Structures and Family Firm Performance

Asma Fattoum-Guedri, Zied Guedri and Frédéric Delmar

Entrepreneurship Theory and Practice, 2018, vol. 42, issue 2, 231-251

Abstract: This study examines how multiple blockholder structures affect family firm performance. Building on arguments from both principal–principal agency and familiness perspectives, we suggest that asymmetrical distribution of voting power among family and nonfamily blockholders hurts firm performance. Further, we suggest that the larger the number of blockholder types, the stronger the negative effect of voting-power asymmetry among family and nonfamily blockholders on firm performance. We provide empirical support for our hypotheses using a longitudinal sample of 413 French family firms over the 1992–2012 period.

Keywords: family business; blockholders; principal-principal agency costs; familiness (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11)

Downloads: (external link)
https://journals.sagepub.com/doi/10.1177/1042258717748652 (text/html)

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:sae:entthe:v:42:y:2018:i:2:p:231-251

DOI: 10.1177/1042258717748652

Access Statistics for this article

More articles in Entrepreneurship Theory and Practice
Bibliographic data for series maintained by SAGE Publications ().