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Do family firms contribute to job stability? Evidence from the great recession

Author

Listed:
  • Santiago Lago-Peñas
  • Elena Rivo-López
  • Alberto Vaquero-García
  • Mónica Villanueva-Villar

Abstract

This article analyzes if, on average, choices made by family businesses regarding job stability in bad times are different to those made by non-family firms. Moreover, we try to elucidate if this potential difference also depends on the family generation in charge. Our analysis relies upon a sample of 55,091 Spanish firms, Spain being one of the countries that suffered the greatest impact of the so-called “Great Recession”. We find that at times of crisis, family businesses do maintain jobs in a higher extent than non-family businesses, and that this effect is especially intense when the first generation is in charge.

Suggested Citation

  • Santiago Lago-Peñas & Elena Rivo-López & Alberto Vaquero-García & Mónica Villanueva-Villar, 2018. "Do family firms contribute to job stability? Evidence from the great recession," Working Papers. Collection C: Family business 1801, Universidade de Vigo, GEN - Governance and Economics research Network.
    • Handle: RePEc:gov:wpfami:1801
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    File URL: http://infogen.webs.uvigo.es/WPC/WP1801.pdf
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    More about this item

    Keywords

    family business; employment; generation; crisis; Socioemotional Wealth.;
    All these keywords.

    JEL classification:

    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

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