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Does family business excel in firm performance? An institution-based view

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  • Weiping Liu
  • Haibin Yang
  • Guangxi Zhang

Abstract

We offer an institution-based view to the classic inquiry on the relationship between family business and firm performance, which has been dominated by traditional theories such as agency theory and the resource-based view. Specifically, we argue that institutions define family business characteristics such as ownership concentration and family management, and also affect the performance of family business. Our research contributes to a reconciliation of prior inconsistent findings and calls further attention to the embedded nature of family business in institutions. Copyright Springer Science+Business Media, LLC 2012

Suggested Citation

  • Weiping Liu & Haibin Yang & Guangxi Zhang, 2012. "Does family business excel in firm performance? An institution-based view," Asia Pacific Journal of Management, Springer, vol. 29(4), pages 965-987, December.
    • Handle: RePEc:kap:asiapa:v:29:y:2012:i:4:p:965-987
    DOI: 10.1007/s10490-010-9216-6
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