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Persistence of Profitability in Family-Owned Food Businesses

  • Boland, Michael A.
  • Pendell, Dustin L.

We examine firm profitability in the food economy and determine the source of variance of firm profitability in family-owned and non-family-owned food processing firms. The results indicate firm effects dominate in explaining the variance in the business-segment performance in the food economy. More specifically, we find family-owned firms compared to non-family-owned firms have a higher percentage of total variance in the business-segment performance explained by yearly effects, industry effects, and firm effects for both the random-effects and fixed-effects models.

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File URL: http://purl.umn.edu/19216
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Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2005 Annual meeting, July 24-27, Providence, RI with number 19216.

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Date of creation: 2005
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Handle: RePEc:ags:aaea05:19216
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  1. Harvey James, 1999. "Owner as Manager, Extended Horizons and the Family Firm," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 6(1), pages 41-55.
  2. Fama, Eugene F & Jensen, Michael C, 1983. "Separation of Ownership and Control," Journal of Law and Economics, University of Chicago Press, vol. 26(2), pages 301-25, June.
  3. Demsetz, Harold & Lehn, Kenneth, 1985. "The Structure of Corporate Ownership: Causes and Consequences," Journal of Political Economy, University of Chicago Press, vol. 93(6), pages 1155-77, December.
  4. Stein, Jeremy C, 1988. "Takeover Threats and Managerial Myopia," Journal of Political Economy, University of Chicago Press, vol. 96(1), pages 61-80, February.
  5. Gabriel Hawawini & Venkat Subramanian & Paul Verdin, 2003. "Is performance driven by industry or firm-specific factors? A new look at the evidence," ULB Institutional Repository 2013/14188, ULB -- Universite Libre de Bruxelles.
  6. Demsetz, Harold, 1983. "The Structure of Ownership and the Theory of the Firm," Journal of Law and Economics, University of Chicago Press, vol. 26(2), pages 375-90, June.
  7. Michael A. Boland, 2005. "The Persistence of Profitability among Firms in the Food Economy," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 87(1), pages 103-115.
  8. Schmalensee, Richard., 1984. "Do markets differ much?," Working papers 1531-84., Massachusetts Institute of Technology (MIT), Sloan School of Management.
  9. Porter, Michael E, 1974. "Consumer Behavior, Retailer Power and Market Performance in Consumer Goods Industries," The Review of Economics and Statistics, MIT Press, vol. 56(4), pages 419-36, November.
  10. Randall K. Morck, 2000. "Concentrated Corporate Ownership," NBER Books, National Bureau of Economic Research, Inc, number morc00-1, October.
  11. Sara Schumacher & Michael Boland, 2005. "The effects of industry and firm resources on profitability in the food economy," Agribusiness, John Wiley & Sons, Ltd., vol. 21(1), pages 97-108.
  12. Radice, H K, 1971. "Control Type, Profitability and Growth in Large Firms: an Empirical Study," Economic Journal, Royal Economic Society, vol. 81(323), pages 547-62, September.
  13. Anita M. McGahan & Michael E. Porter, 2002. "What Do We Know About Variance in Accounting Profitability?," Management Science, INFORMS, vol. 48(7), pages 834-851, July.
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