Rights statement: This is the peer reviewed version of the following article: De Massis, A., Kotlar, J., Campopiano, G. and Cassia, L. (2015), The Impact of Family Involvement on SMEs’ Performance: Theory and Evidence. Journal of Small Business Management, 53: 924–948. doi: 10.1111/jsbm.12093, which has been published in final form at http://onlinelibrary.wiley.com/doi/10.1111/jsbm.12093/abstract This article may be used for non-commercial purposes in accordance With Wiley Terms and Conditions for self-archiving.
Accepted author manuscript, 592 KB, PDF document
Available under license: CC BY: Creative Commons Attribution 4.0 International License
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 - The impact of family involvement on SMEs performance
T2 - theory and evidence
AU - De Massis, Alfredo
AU - Kotlar, Josip
AU - Campopiano, Giovanna
AU - Cassia, Lucio
N1 - This is the peer reviewed version of the following article: De Massis, A., Kotlar, J., Campopiano, G. and Cassia, L. (2015), The Impact of Family Involvement on SMEs’ Performance: Theory and Evidence. Journal of Small Business Management, 53: 924–948. doi: 10.1111/jsbm.12093, which has been published in final form at http://onlinelibrary.wiley.com/doi/10.1111/jsbm.12093/abstract This article may be used for non-commercial purposes in accordance With Wiley Terms and Conditions for self-archiving.
PY - 2015/10
Y1 - 2015/10
N2 - By complementing agency theory with behavioral assumptions, we explore the effects of family involvement on SMEs’ performance. We identify three separate dimensions of family involvement and hypothesize non-linear, direct and interaction effects on the performance of an SME. The evidence on 787 SMEs suggests that an inverted U-shaped relationship exists between family ownership and performance, and ownership dispersion among family members negatively affects performance. Balancing family and non-family members in the TMT is found to be beneficial to SMEs’ performance, but the family ratio in the TMT becomes crucial only at high levels of family ownership.
AB - By complementing agency theory with behavioral assumptions, we explore the effects of family involvement on SMEs’ performance. We identify three separate dimensions of family involvement and hypothesize non-linear, direct and interaction effects on the performance of an SME. The evidence on 787 SMEs suggests that an inverted U-shaped relationship exists between family ownership and performance, and ownership dispersion among family members negatively affects performance. Balancing family and non-family members in the TMT is found to be beneficial to SMEs’ performance, but the family ratio in the TMT becomes crucial only at high levels of family ownership.
U2 - 10.1111/jsbm.12093
DO - 10.1111/jsbm.12093
M3 - Journal article
VL - 53
SP - 924
EP - 948
JO - Journal of Small Business Management
JF - Journal of Small Business Management
SN - 0047-2778
IS - 4
ER -