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  • Memili_et_al._2015_SBE_Family_firms_and_economic_growth

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The impact of small- and medium-sized family firms on economic growth

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<mark>Journal publication date</mark>12/2015
<mark>Journal</mark>Small Business Economics
Issue number4
Volume45
Number of pages15
Pages (from-to)771-785
Publication StatusPublished
Early online date23/07/15
<mark>Original language</mark>English

Abstract

Drawing on family business studies and the knowledge-based view of economic growth, we develop and test a model of how the prevalence of small and medium-size enterprises (SMEs) under family control affect economic growth. Specifically, we propose there is an inverted U-shaped relationship between family SMEs’ proportional representation and economic growth owing to their relative strengths and limitations vis-à-vis non-family SMEs. Using state-level data from the U.S. between 2004 and 2010, we find support for our hypothesis and the underlying contention that economic growth is maximized when an economy includes a balanced mix of family and non-family SMEs.

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The final publication is available at Springer via http://dx.doi.org/10.1007/s11187-015-9670-0