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Family Ownership and Firm Performance: Further Evidence from Sri Lanka and Japan

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  • Pradeep Dharmadasa

    (Faculty of Management and Finance, University of Colombo, Colombo, Sri Lanka)

Abstract

Numerous studies have focused on ownership structure and firm performance. In recent years a growing amount of research has recognized the importance of family-controlled firms (FCFs) where ownership concentrates on single individual or family. Despite many important insights, however, significant gaps in the literature remain. Studies have produced divergent findings about the performance of FCFs, leading to calls for further research. Utilizing 151 and 753 firm-years of FCFs drawn from the Colombo Stock Exchange, Sri Lanka, and the Tokyo Stock Exchange, Japan, respectively during 2011-2013, this study examines the relationship between family ownership and firm performance. Regression results show conflicting findings in that family ownership has a positive relationship with firm performance in Japan whereas a negative relationship is found in Sri Lanka. In sum, finding supports that view of the extant studies that family ownership and firm performance have a curvilinear relationship meaning that ownership concentration beyond a certain point likely creates entrenchment and consequently negative effects on performance.

Suggested Citation

  • Pradeep Dharmadasa, 2014. "Family Ownership and Firm Performance: Further Evidence from Sri Lanka and Japan," International Journal of Asian Business and Information Management (IJABIM), IGI Global, vol. 5(4), pages 34-47, October.
    • Handle: RePEc:igg:jabim0:v:5:y:2014:i:4:p:34-47
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    File URL: http://services.igi-global.com/resolvedoi/resolve.aspx?doi=10.4018/ijabim.2014100104
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    Cited by:

    1. Waseem Akhter & Arshad Hassan, 2024. "Does corporate social responsibility mediate the relationship between corporate governance and firm performance? Empirical evidence from BRICS countries," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(1), pages 566-578, January.
    2. Kuruppuge Ravindra H. & Gregar Aleš, 2015. "Pushing Or Pulling Of The Business By Family Members: A Study Of Family Businesses In Sri Lanka," Foundations of Management, Sciendo, vol. 7(1), pages 121-128, June.

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