Analysis anf investigation of global and input-specific efficiency of family versus non-family firms. Consideration and characteristic of input-specific over-utilization coefficients by industry and ownership structure: materials, labor and capital.
Аннотация к работе
(2001), concentrated private ownership subtracts firms from the disciplining effect of external governance mechanisms, like market for corporate control, thus possibly preventing value-enhancing equity transactions and corporate takeovers [Jensen, 1993]. Anderson and Reeb (2003) and Villalonga and Amit (2006) show that in family firms, the beneficial effect of concentrated ownership starts decreasing when the proportion of family ownership becomes too large (more than 30%).