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Family Firms and Labor Relations

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  • Holger M. Mueller
  • Thomas Philippon

Abstract

This paper examines the relationship between family ownership and the quality of labor relations. We find that family ownership is more prevalent in countries in which labor relations are hostile, consistent with the notion that family firms are particularly effective at coping with difficult labor relations. Our results are robust to controlling for minority shareholder protection and other potential determinants of family ownership. To address endogeneity issues, we show that, controlling for industry- and country-fixed effects, industries that are more labor dependent have relatively more family ownership in countries with worse labor relations. (JEL G32, G34, J52, J53)

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File URL: http://www.aeaweb.org/articles.php?doi=10.1257/mac.3.2.218
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Bibliographic Info

Article provided by American Economic Association in its journal American Economic Journal: Macroeconomics.

Volume (Year): 3 (2011)
Issue (Month): 2 (April)
Pages: 218-45

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Handle: RePEc:aea:aejmac:v:3:y:2011:i:2:p:218-45

Note: DOI: 10.1257/mac.3.2.218
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References

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  1. Roe, Mark J., 2006. "Political Determinants of Corporate Governance: Political Context, Corporate Impact," OUP Catalogue, Oxford University Press, number 9780199205301.
  2. Sraer, David & Thesmar, David, 2004. "Performance and Behaviour of Family Firms: Evidence from the French Stock Market," CEPR Discussion Papers 4520, C.E.P.R. Discussion Papers.
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Cited by:
  1. Bassanini, Andrea & Caroli, Eve & Rebérioux, Antoine & Breda, Thomas, 2011. "Working in Family Firms: Less Paid but More Secure? Evidence from French Matched Employer-Employee Data," IZA Discussion Papers 5842, Institute for the Study of Labor (IZA).
  2. Noda, Tomohiko & Hirano, Daisuke, 2013. "Enterprise unions and downsizing in Japan before and after 1997," Journal of the Japanese and International Economies, Elsevier, vol. 28(C), pages 91-118.
  3. William Mullins & Antoinette Schoar, 2013. "How do CEOs see their Role? Management Philosophy and Styles in Family and Non-Family Firms," NBER Working Papers 19395, National Bureau of Economic Research, Inc.

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