Financial Performance in the Light of Corporate Governance in Polish Family Businesses

Socha Błażej () and Majda-Kariozen Aleksandra ()
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Socha Błażej: University of Lodz, Faculty of Management, Department of Finance and Strategic Management, Matejki 22/26, 90-237Łódź, Poland
Majda-Kariozen Aleksandra: University of Lodz, Faculty of Management, Department of Finance and Strategic Management, Matejki 22/26, 90-237Łódź, Poland

Folia Oeconomica Stetinensia, 2017, vol. 17, issue 2, 56-70

Abstract: The article presents a view (on the basis of theoretical and empirical analysis) of corporate governance models used in Polish family businesses through financial performance. The empirical analysis covered a sample of 24,000 Polish family businesses in the period of 2008–2013. The use of linear regression has allowed the authors to verify the hypothesis concerning the occurrence of differences in profitability ratios in groups of family businesses using variant management models and allowed verifying the relationship between the degree of control and involvement of the owners in management and financial performance. The received results, though inconclusive, indicate that the involvement of the owner in the governance process can affect the financial aspect of a business. The prepared empirical analysis and conclusions of the article contribute to a better understanding of the measures taken on management and control decisions; what is more, they can provide guidance to the owners of family businesses in shaping the corporate governance model.

Keywords: family business; financial performance; corporate governance; family involvement in management; family involvement in ownership (search for similar items in EconPapers)
JEL-codes: D19 D22 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:foeste:v:17:y:2017:i:2:p:56-70:n:4

DOI: 10.1515/foli-2017-0018

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