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Types of governance, financial policy and the financial performance of micro-family-owned businesses in Canada

Author

Listed:
  • Amarjit Gill

    (U of S - University of Saskatchewan [Saskatoon, Canada])

  • Alan Flaschner
  • Susan Mann
  • Léo Paul Dana

    (MRM - Montpellier Research in Management - UM1 - Université Montpellier 1 - UPVM - Université Paul-Valéry - Montpellier 3 - UM2 - Université Montpellier 2 - Sciences et Techniques - UPVD - Université de Perpignan Via Domitia - Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School)

Abstract

The purpose of this study is to examine the impact of type of governance on financial policy and financial performance of micro-family-owned businesses in Canada. This study utilised survey research (a non-experimental field study design). Micro-family-business owners from Western Canada were asked about their beliefs, perceptions and feelings regarding type of governance, financial policy and financial performance. The findings of this study indicate that type of governance positively impacts financial policy. The results also show that both type of governance and financial policy positively impact the financial performance of the micro-family-owned businesses in Canada. This study contributes to the literature on the factors that affect the financial performance of micro-family-owned businesses by showing that financial performance is affected by the joint impact of type of governance and financial policy, and that financial policies differ based on gender of the CEOs and length of stay of the CEOs in Canada. The findings may be useful for financial managers, family business owners, stakeholders, investors and family business management consultants.

Suggested Citation

  • Amarjit Gill & Alan Flaschner & Susan Mann & Léo Paul Dana, 2014. "Types of governance, financial policy and the financial performance of micro-family-owned businesses in Canada," Post-Print hal-02050794, HAL.
    • Handle: RePEc:hal:journl:hal-02050794
    DOI: 10.1504/IJBG.2014.065435
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    Citations

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    Cited by:

    1. Rama Iyer, Subramanian & Sankaran, Harikumar & Walsh, Steve T., 2020. "Influence of Director Expertise on Capital Structure and Cash Holdings in High-Tech Firms," Technological Forecasting and Social Change, Elsevier, vol. 158(C).
    2. Francesca Culasso & Elisa Giacosa & Luca Maria Manzi & Leo-Paul Dana, 2018. "Professionalization in Family Businesses. How to strengthen strategy implementation and control, favouring succession," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2018(1), pages 45-71.
    3. Bellavite Pellegrini, Carlo & Pellegrini, Laura & Sergi, Bruno, 2018. "Governance and banking system morphology in China: the evolution over the last two decades (1995-2015)," MPRA Paper 98571, University Library of Munich, Germany, revised 2018.

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