Controlling Interest and Firm Efficiency: Comparing Family‐ and Nonfamily‐Controlled Taiwanese Cultural and Creative Industry Firms

Qian Long Kweh, Irene Wei Kiong Ting, Wen‐Min Lu and Hanh Thi My Le

Managerial and Decision Economics, 2025, vol. 46, issue 2, 1344-1357

Abstract: The study evaluates the efficiencies of Taiwanese cultural and creative firms, comparing family and nonfamily firms. A novel chance‐constrained network data envelopment analysis model measured efficiency from 2005 to 2020. Key findings include the following: (1) Nonfamily firms are more efficient than family‐controlled firms, and (2) a nonlinear relationship between controlling shareholdings and efficiency is present only in family‐controlled firms. This study offers key insights for policymakers, management, highlighting the importance of R&D investment for enhancing firm efficiency, the strategic role of family control in early‐stage efficiency improvements through R&D and the need for investors to adopt tailored strategies to optimize efficiency.

Date: 2025
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https://doi.org/10.1002/mde.4437

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Persistent link: https://EconPapers.repec.org/RePEc:wly:mgtdec:v:46:y:2025:i:2:p:1344-1357

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