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The COVID-19 pandemic and family business performance

Research output: Contribution to Journal/Magazine › Journal article › peer-review

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The COVID-19 pandemic and family business performance. / Miroshnychenko, Ivan; Vocalelli, Giorgio; De Massis, Alfredo et al.
In: Small Business Economics, Vol. 62, No. 1, 01.01.2024, p. 213-241.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Miroshnychenko, I, Vocalelli, G, De Massis, A, Grassi, S & Ravazzolo, F 2024, 'The COVID-19 pandemic and family business performance', Small Business Economics, vol. 62, no. 1, pp. 213-241. https://doi.org/10.1007/s11187-023-00766-2

APA

Miroshnychenko, I., Vocalelli, G., De Massis, A., Grassi, S., & Ravazzolo, F. (2024). The COVID-19 pandemic and family business performance. Small Business Economics, 62(1), 213-241. https://doi.org/10.1007/s11187-023-00766-2

Vancouver

Miroshnychenko I, Vocalelli G, De Massis A, Grassi S, Ravazzolo F. The COVID-19 pandemic and family business performance. Small Business Economics. 2024 Jan 1;62(1):213-241. Epub 2023 Apr 10. doi: 10.1007/s11187-023-00766-2

Author

Miroshnychenko, Ivan ; Vocalelli, Giorgio ; De Massis, Alfredo et al. / The COVID-19 pandemic and family business performance. In: Small Business Economics. 2024 ; Vol. 62, No. 1. pp. 213-241.

Bibtex

@article{062dceafbb5449a6985f7ec25f1f73dd,
title = "The COVID-19 pandemic and family business performance",
abstract = "This study examines the impact of the COVID-19 pandemic on corporate financial performance using a unique, cross-country, and longitudinal sample of 3350 listed firms worldwide. We find that the financial performance of family firms has been significantly higher than that of nonfamily firms during the COVID-19 pandemic, accounting for pre-pandemic business conditions. This effect is pertinent to firms with strong family involvement in management or in both management and ownership. We also identify the role of firm-, industry-, and country-level contingencies for family business financial performance during the COVID-19 pandemic. This study offers a novel understanding of the financial resilience across different types of family business and sets an agenda for future research on the drivers of resilience of family firms to adverse events. It also provides important and novel evidence for policymakers, particularly for firms with different ownership and management structures.",
keywords = "COVID-19, Family firms, Financial performance, Pandemic, Resilience",
author = "Ivan Miroshnychenko and Giorgio Vocalelli and {De Massis}, Alfredo and Stefano Grassi and Francesco Ravazzolo",
year = "2024",
month = jan,
day = "1",
doi = "10.1007/s11187-023-00766-2",
language = "English",
volume = "62",
pages = "213--241",
journal = "Small Business Economics",
issn = "0921-898X",
publisher = "Springer New York LLC",
number = "1",

}

RIS

TY - JOUR

T1 - The COVID-19 pandemic and family business performance

AU - Miroshnychenko, Ivan

AU - Vocalelli, Giorgio

AU - De Massis, Alfredo

AU - Grassi, Stefano

AU - Ravazzolo, Francesco

PY - 2024/1/1

Y1 - 2024/1/1

N2 - This study examines the impact of the COVID-19 pandemic on corporate financial performance using a unique, cross-country, and longitudinal sample of 3350 listed firms worldwide. We find that the financial performance of family firms has been significantly higher than that of nonfamily firms during the COVID-19 pandemic, accounting for pre-pandemic business conditions. This effect is pertinent to firms with strong family involvement in management or in both management and ownership. We also identify the role of firm-, industry-, and country-level contingencies for family business financial performance during the COVID-19 pandemic. This study offers a novel understanding of the financial resilience across different types of family business and sets an agenda for future research on the drivers of resilience of family firms to adverse events. It also provides important and novel evidence for policymakers, particularly for firms with different ownership and management structures.

AB - This study examines the impact of the COVID-19 pandemic on corporate financial performance using a unique, cross-country, and longitudinal sample of 3350 listed firms worldwide. We find that the financial performance of family firms has been significantly higher than that of nonfamily firms during the COVID-19 pandemic, accounting for pre-pandemic business conditions. This effect is pertinent to firms with strong family involvement in management or in both management and ownership. We also identify the role of firm-, industry-, and country-level contingencies for family business financial performance during the COVID-19 pandemic. This study offers a novel understanding of the financial resilience across different types of family business and sets an agenda for future research on the drivers of resilience of family firms to adverse events. It also provides important and novel evidence for policymakers, particularly for firms with different ownership and management structures.

KW - COVID-19

KW - Family firms

KW - Financial performance

KW - Pandemic

KW - Resilience

U2 - 10.1007/s11187-023-00766-2

DO - 10.1007/s11187-023-00766-2

M3 - Journal article

VL - 62

SP - 213

EP - 241

JO - Small Business Economics

JF - Small Business Economics

SN - 0921-898X

IS - 1

ER -