Rights statement: The final, definitive version of this article has been published in the Journal, Entrepreneurship Theory and Practice, 45 (4), 2021, © SAGE Publications Ltd, 2021 by SAGE Publications Ltd at the Entrepreneurship Theory and Practice page: https://journals.sagepub.com/home/etpb on SAGE Journals Online: http://journals.sagepub.com/
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Final published version
Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
}
TY - JOUR
T1 - Family business growth around the world
AU - Miroshnychenko, Ivan
AU - De Massis, Alfredo
AU - Miller, D
AU - Barontini, R
N1 - The final, definitive version of this article has been published in the Journal, Entrepreneurship Theory and Practice, 45 (4), 2021, © SAGE Publications Ltd, 2021 by SAGE Publications Ltd at the Entrepreneurship Theory and Practice page: https://journals.sagepub.com/home/etpb on SAGE Journals Online: http://journals.sagepub.com/
PY - 2021/7/1
Y1 - 2021/7/1
N2 - Growth is important for the long-term success of a business. Regrettably, the impact of family influence on firm growth is largely neglected. We examine whether family firms have a higher growth rate than their nonfamily counterparts. Based on a large sample of firms across 43 countries over a 10-year period, we show that family firms on average have higher growth rates than nonfamily firms, and this positive effect is greater for family firms operating in strong national institutional environments which are less corrupt, more democratic, more subject to rule of law, and have effective government policies. We also find that the positive effect of family influence on firm growth varies significantly across different types of family firms and different business cycles. These findings show that family control has an economically significant impact on growth rates and important implications for both family firm theory and practice.
AB - Growth is important for the long-term success of a business. Regrettably, the impact of family influence on firm growth is largely neglected. We examine whether family firms have a higher growth rate than their nonfamily counterparts. Based on a large sample of firms across 43 countries over a 10-year period, we show that family firms on average have higher growth rates than nonfamily firms, and this positive effect is greater for family firms operating in strong national institutional environments which are less corrupt, more democratic, more subject to rule of law, and have effective government policies. We also find that the positive effect of family influence on firm growth varies significantly across different types of family firms and different business cycles. These findings show that family control has an economically significant impact on growth rates and important implications for both family firm theory and practice.
U2 - 10.1177/1042258720913028
DO - 10.1177/1042258720913028
M3 - Journal article
VL - 45
SP - 682
EP - 708
JO - Entrepreneurship Theory and Practice
JF - Entrepreneurship Theory and Practice
SN - 1042-2587
IS - 4
ER -