Nov 29, 2012

Family Firms in Colombia

From the new paper "Family firms and financial performance: The cost of growing" by González et al (December 2012) in the Emerging Markets Review:
Econometric results show the positive effect of family involvement is robust when firms are small and young, especially when the founder is still active in management; but as firms grow, the results suggest family involvement must be avoided to increase efficiency and improve overall corporate governance practices (p. 3).
A draft is here.  

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