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Productivity and survival of family firms in Japan

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  • Morikawa, Masayuki

Abstract

Using data on a large number of Japanese firms, this paper empirically analyzes the relationship between family ownership of firms and productivity growth and survival. The results show that the annual productivity growth rate of family firms is approximately 2% slower than that of non-family firms. Because family firms attach importance to firm survival as a managerial objective, their probability of survival over a six-year period is 5–10% higher than that of non-family firms. The difference in performance between family and non-family firms is found to be limited to unlisted firms.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Economics and Business.

Volume (Year): 70 (2013)
Issue (Month): C ()
Pages: 111-125

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Handle: RePEc:eee:jebusi:v:70:y:2013:i:c:p:111-125

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Web page: http://www.elsevier.com/locate/jeconbus

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Keywords: Family firm; Ownership; Productivity; Survival;

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References

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Citations

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Cited by:
  1. Nguyen, Pascal & Rahman, Nahid & Zhao, Ruoyun, 2013. "Ownership structure and divestiture decisions: Evidence from Australian firms," International Review of Financial Analysis, Elsevier, vol. 30(C), pages 170-181.
  2. Masayuki Morikawa, 2014. "What Types of Companies Have Female and Foreign Directors?," AJRC Working Papers 1404, Australia-Japan Research Centre, Crawford School of Public Policy, The Australian National University.
  3. MORIKAWA Masayuki, 2014. "Innovation in the Service Sector and the Role of Patents and Trade Secrets," Discussion papers 14030, Research Institute of Economy, Trade and Industry (RIETI).
  4. Masayuki Morikawa, 2014. "What Types of Company Have Female and Foreign Directors?," CAMA Working Papers 2014-47, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.

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