Financial performance of hidden champions: Evidence from German manufacturing firms
Author
Abstract
Suggested Citation
DOI: 10.1007/s11187-021-00557-7
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Patricia Kraft & Michael Dowling & Roland Helm, 2012. "International orientation, marketing mix, and the performance of international German 'mittelstand' companies," International Journal of Business and Globalisation, Inderscience Enterprises Ltd, vol. 8(3), pages 293-315.
- repec:cup:buhirw:v:80:y:2006:i:02:p:263-295_00 is not listed on IDEAS
- Andres, Christian, 2008. "Large shareholders and firm performance--An empirical examination of founding-family ownership," Journal of Corporate Finance, Elsevier, vol. 14(4), pages 431-445, September.
- Zélia Serrasqueiro & Paulo Maçãs Nunes, 2008. "Performance and size: empirical evidence from Portuguese SMEs," Small Business Economics, Springer, vol. 31(2), pages 195-217, August.
- Andrew Bernard & Joachim Wagner, 1997.
"Exports and success in German manufacturing,"
Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 133(1), pages 134-157, March.
- Bernard, A. & Wagner, J., 1996. "Exports and Success in German Manufacturing," Working papers 96-10, Massachusetts Institute of Technology (MIT), Department of Economics.
- Jim Lee, 2009. "Does Size Matter in Firm Performance? Evidence from US Public Firms," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 16(2), pages 189-203.
- Arndt Werner & Christian Schröder & Simone Chlosta, 2018. "Driving factors of innovation in family and non-family SMEs," Small Business Economics, Springer, vol. 50(1), pages 201-218, January.
- Villalonga, Belen & Amit, Raphael, 2006. "How do family ownership, control and management affect firm value?," Journal of Financial Economics, Elsevier, vol. 80(2), pages 385-417, May.
- Gary S. Hansen & Birger Wernerfelt, 1989. "Determinants of firm performance: The relative importance of economic and organizational factors," Strategic Management Journal, Wiley Blackwell, vol. 10(5), pages 399-411, September.
- Laura K.C. Seibold & Maximilian Lantelme & Hermut Kormann, 2019. "German Family Enterprises," Springer Books, Springer, number 978-3-030-04101-4, January.
- Yiannis E. Spanos & George Zaralis & Spyros Lioukas, 2004. "Strategy and industry effects on profitability: evidence from Greece," Strategic Management Journal, Wiley Blackwell, vol. 25(2), pages 139-165, February.
- Schenkenhofer, Julian, 2020. "Hidden champions: A review of the literature & future research avenues," UO Working Papers 06-20, University of Augsburg, Chair of Management and Organization.
- Michael Berlemann & Vera Jahn, 2016.
"Regional Importance of Mittelstand Firms and Innovation Performance,"
Regional Studies, Taylor & Francis Journals, vol. 50(11), pages 1819-1833, November.
- Berlemann, Michael & Jahn, Vera, 2015. "Regional importance of Mittelstand firms and innovation performance," Beiträge zur Jahrestagung 2015 (Bayreuth) 140884, Verein für Socialpolitik, Ausschuss für Wirtschaftssysteme und Institutionenökonomik.
- Rammer, Christian & Spielkamp, Alfred, 2015. "Hidden Champions - Driven by Innovation: Empirische Befunde auf Basis des Mannheimer Innovationspanels," ZEW Dokumentationen 15-03, ZEW - Leibniz Centre for European Economic Research.
- Stewart Thornhill & Roderick E. White, 2007. "Strategic purity: A multi‐industry evaluation of pure vs. hybrid business strategies," Strategic Management Journal, Wiley Blackwell, vol. 28(5), pages 553-561, May.
- G.T. Lumpkin & Keith H. Brigham & Todd W. Moss, 2010. "Long-term orientation: Implications for the entrepreneurial orientation and performance of family businesses," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 22(3-4), pages 241-264, May.
- Roderick E. White, 1986. "Generic business strategies, organizational context and performance: An empirical investigation," Strategic Management Journal, Wiley Blackwell, vol. 7(3), pages 217-231, May.
- Edward J. Zajac & Matthew S. Kraatz & Rudi K. F. Bresser, 2000. "Modeling the dynamics of strategic fit: a normative approach to strategic change," Strategic Management Journal, Wiley Blackwell, vol. 21(4), pages 429-453, April.
- Carolin Decker & Christina Günther, 2017. "The impact of family ownership on innovation: evidence from the German machine tool industry," Small Business Economics, Springer, vol. 48(1), pages 199-212, January.
- André Pahnke & Friederike Welter, 2019. "The German Mittelstand: antithesis to Silicon Valley entrepreneurship?," Small Business Economics, Springer, vol. 52(2), pages 345-358, February.
- Erik E. Lehmann & Julian Schenkenhofer & Katharine Wirsching, 2019. "Hidden champions and unicorns: a question of the context of human capital investment," Small Business Economics, Springer, vol. 52(2), pages 359-374, February.
- Block, J.H. & Spiegel, F., 2013. "Family firm density and regional innovation output: An exploratory analysis," Journal of Family Business Strategy, Elsevier, vol. 4(4), pages 270-280.
- Berghoff, Hartmut, 2006. "The End of Family Business? The Mittelstand and German Capitalism in Transition, 1949–2000," Business History Review, Cambridge University Press, vol. 80(2), pages 263-295, July.
- Edward H. Bowman & Constance E. Helfat, 2001. "Does corporate strategy matter?," Strategic Management Journal, Wiley Blackwell, vol. 22(1), pages 1-23, January.
- Jean-François Hennart & Antonio Majocchi & Emanuele Forlani, 2019. "The myth of the stay-at-home family firm: How family-managed SMEs can overcome their internationalization limitations," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 50(5), pages 758-782, July.
- Pahnke, André & Welter, Friederike, 2019. "The German Mittelstand: Antithesis to the Silicon Valley entrepreneurship model?," Working Papers 01/19, Institut für Mittelstandsforschung (IfM) Bonn.
- Karl-Heinz Leitner & Stefan Güldenberg, 2010. "Generic strategies and firm performance in SMEs: a longitudinal study of Austrian SMEs," Small Business Economics, Springer, vol. 35(2), pages 169-189, September.
- Muzyka, Daniel & Breuninger, Hans & Rossell, Gerda, 1997. "The secret of new growth in old German 'Mittelstand' companies," European Management Journal, Elsevier, vol. 15(2), pages 147-157, April.
- Audretsch, David B. & Hülsbeck, Marcel & Lehmann, Erik E., 2013. "Families as active monitors of firm performance," Journal of Family Business Strategy, Elsevier, vol. 4(2), pages 118-130.
- Voudouris, Irini & Lioukas, Spyros & Makridakis, Spyros & Spanos, Yiannis, 2000. "Greek hidden champions:: lessons from small, little-known firms in Greece," European Management Journal, Elsevier, vol. 18(6), pages 663-674, December.
- Miller, Danny & Le Breton-Miller, Isabelle & Lester, Richard H. & Cannella Jr., Albert A., 2007. "Are family firms really superior performers?," Journal of Corporate Finance, Elsevier, vol. 13(5), pages 829-858, December.
- Lindow, Corinna M. & Stubner, Stephan & Wulf, Torsten, 2010. "Strategic fit within family firms: The role of family influence and the effect on performance," Journal of Family Business Strategy, Elsevier, vol. 1(3), pages 167-178, September.
- Antonio‐Rafael Ramos‐Rodríguez & José Ruíz‐Navarro, 2004. "Changes in the intellectual structure of strategic management research: a bibliometric study of the Strategic Management Journal, 1980–2000," Strategic Management Journal, Wiley Blackwell, vol. 25(10), pages 981-1004, October.
- Lee, Khai S & Lim, Guan H & Tan, Soo J, 1999. "Dealing with Resource Disadvantage: Generic Strategies for SMEs," Small Business Economics, Springer, vol. 12(4), pages 299-311, June.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Block, Joern H. & Hirschmann, Mirko & Kranz, Tobias & Neuenkirch, Matthias, 2023.
"Public family firms and economic inequality across societies,"
Journal of Business Venturing Insights, Elsevier, vol. 19(C).
- Joern H. Block & Mirko Hirschmann & Tobias Kranz & Matthias Neuenkirch, 2022. "Public Family Firms and Economic Inequality Across Societies," Research Papers in Economics 2022-04, University of Trier, Department of Economics.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Benz Lena & Block Jörn H. & Johann Matthias S., 2024. "Hidden champions as a determinant of regional development: An analysis of german districts," ZFW – Advances in Economic Geography, De Gruyter, vol. 68(1), pages 9-39.
- Schenkenhofer, Julian, 2020. "Hidden champions: A review of the literature & future research avenues," UO Working Papers 06-20, University of Augsburg, Chair of Management and Organization.
- Anja Ströbele & Patrick Brecht & Lisa Kurz & Carsten H. Hahn, 2023. "Conceptualization of a Cooperative Company Builder for Systematic Transfer of University Research and Innovation in the German Mittelstand," Athens Journal of Business & Economics, Athens Institute for Education and Research (ATINER), vol. 9(4), pages 401-428, October.
- Franco Ernesto Rubino & Paolo Tenuta & Domenico Rocco Cambrea, 2017. "Board characteristics effects on performance in family and non-family business: a multi-theoretical approach," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 21(3), pages 623-658, September.
- Suwala Lech & Ahrens Jan-Philipp & Basco Rodrigo, 2024. "Family firms, hidden champions and regional development," ZFW – Advances in Economic Geography, De Gruyter, vol. 68(1), pages 1-8.
- Julian Schenkenhofer, 2022. "Hidden champions: a review of the literature & future research avenues," Management Review Quarterly, Springer, vol. 72(2), pages 417-482, June.
- Welter, Friederike & Schlepphorst, Susanne & Schneck, Stefan & Holz, Michael, 2020. "Der gesellschaftliche Beitrag des Mittelstands: Konzeptionelle Überlegungen [The societal impact of German Mittelstand: Conceptual considerations]," IfM-Materialien 283, Institut für Mittelstandsforschung (IfM) Bonn.
- Anna Maria Bornhausen & Torsten Wulf, 2024. "Digital innovation in family firms: The roles of non-family managers and transgenerational control intentions," Small Business Economics, Springer, vol. 62(4), pages 1429-1448, April.
- André Pahnke & Friederike Welter & David B. Audretsch, 2023. "In the eye of the beholder? Differentiating between SMEs and Mittelstand," Small Business Economics, Springer, vol. 60(2), pages 729-743, February.
- Suveera Gill & Parmjit Kaur, 2015. "Family Involvement in Business and Financial Performance: A Panel Data Analysis," Vikalpa: The Journal for Decision Makers, , vol. 40(4), pages 395-420, December.
- Francesco Aiello & Lidia Mannarino & Valeria Pupo, 2024. "Family firm heterogeneity and patenting. Revising the role of size and age," Small Business Economics, Springer, vol. 63(1), pages 105-133, June.
- Mazzi, Chiara, 2011. "Family business and financial performance: Current state of knowledge and future research challenges," Journal of Family Business Strategy, Elsevier, vol. 2(3), pages 166-181.
- Garcia-Castro, Roberto & Aguilera, Ruth V., 2014. "Family involvement in business and financial performance: A set-theoretic cross-national inquiry," Journal of Family Business Strategy, Elsevier, vol. 5(1), pages 85-96.
- David B. Audretsch & Erik E. Lehmann & Julian Schenkenhofer, 2021. "A Context-Choice Model of Niche Entrepreneurship," Entrepreneurship Theory and Practice, , vol. 45(5), pages 1276-1303, September.
- Bornhausen, Anna Maria, 2022. "Conceptualizing cross-country analyses of family firms: A systematic review and future research agenda," International Business Review, Elsevier, vol. 31(4).
- Barros, Ismael & Hernangómez, Juan & Martin-Cruz, Natalia, 2016. "A theoretical model of strategic management of family firms. A dynamic capabilities approach," Journal of Family Business Strategy, Elsevier, vol. 7(3), pages 149-159.
- Esra Memili & Kaustav Misra, 2015. "Corporate Governance Provisions, Family Involvement, and Firm Performance in Publicly Traded Family Firms," IJFS, MDPI, vol. 3(3), pages 1-36, July.
- Christine Weigel & Klaus Derfuss & Martin R. W. Hiebl, 2023. "Financial managers and organizational ambidexterity in the German Mittelstand: the moderating role of strategy involvement," Review of Managerial Science, Springer, vol. 17(2), pages 569-605, February.
- Basco, Rodrigo, 2013. "The family's effect on family firm performance: A model testing the demographic and essence approaches," Journal of Family Business Strategy, Elsevier, vol. 4(1), pages 42-66.
- Michael A. Abebe & Pingshu Li & Keshab Acharya & Joshua J. Daspit, 2020. "The founder chief executive officer: A review of current insights and directions for future research," Corporate Governance: An International Review, Wiley Blackwell, vol. 28(6), pages 406-436, November.
More about this item
Keywords
Hidden champions; Niche market leadership; Mittelstand; Manufacturing; Financial performance; Profitability;All these keywords.
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:sbusec:v:59:y:2022:i:3:d:10.1007_s11187-021-00557-7. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.