The paper analyzes internal factors which influence the use of equity - and mezzanine-based financing instruments in German privately held family firms. Based on a sample of 195 surveys of family firms, we investigate the impact of family specific goals and corporate governance structures on the...

Objectives: We examine decision factors of family firm owners for hiring a non-family Chief Financial Officer (CFO). We explore the perceptions of family firm owners towards external managers by analyzing how their family-specific and company-specific goals relate to the employment of a...

The relationship between CEO pay and performance has been much analyzed in the management and economics literature. This study analyzes the structure of executive compensation in family and non-family firms. In line with predictions of agency theory, it is found that the share of base salary is...

The purpose of this research was to examine how corporate governance methods relate to the performance of companies in Vietnam. The study used a dataset of 85 manufacturing firms listed on the Ho Chi Minh City stock exchange (HOSE) and applied Random-Effect Model (REM) and the Feasible...

We study family firm status as an important condition in signaling theory; specifically, we propose that the market reacts more positively to positive, and more negatively to negative, CSR news (i.e., signals) from family firms than to similar news from nonfamily firms. Moreover, we propose that...

Family firms face the dual challenge of succession and innovation. Based on the attention-based view, this study empirically investigates the effect of intergenerational power gap on corporate R&D investment, using a sample of Chinese listed family firms. We find that intergenerational power gap...

This paper aims to identify and analyze trends in the study of supply chain financing (SCF). We use bibliometrics and content analysis as a methodology. Scientific maps analysis highlights the production and performance of the SCF, as well as the keywords that characterize it. The supply chain...

We examine how incentive compensation for nonfamily executives in family firms differs from incentive compensation for executives in nonfamily firms. Nonfamily executives in family firms receive significantly less performance-based pay and equity-based pay. Family monitoring, risk aversion, and...

We argue that changes in the inheritance system affect the incentives toward sibling rivalry among descendants, thereby having a material impact on family firm performance. Using South Korea's 1991 inheritance law reform that stipulates the equal distribution of a deceased person's property to...

We use director elections to analyze outsider shareholder perspectives of agency problems in family firms. Compared to nonfamily firms, outsider shareholders in family firms provide weaker support for director slates proposed by the firms' nominating committees. Outside shareholder support...