A family member or professional management? the choice of a CEO and its impact on performance

Shu Hui Lin, Shing Yang Hu

研究成果: Article同行評審

71 引文 斯高帕斯(Scopus)

摘要

In this study, we explore what kinds of family firms are more likely to have a family CEO or professional CEO, and investigate the performance of CEOs from different backgrounds. The results show that firms with low requirements in managerial skills and a high potential for expropriation are more likely to choose a CEO from the controlling family (nepotism). Our investigation, furthermore, shows that when a firm requires high managerial skills, using a professional CEO can help firm performance, especially if the family has low cash-flow rights and weak control. When there is large opportunity for expropriation in a family firm, the firm's performance will be better if the CEO is a family member and the family has highly persuasive cash-flow rights.

原文English
頁(從 - 到)1348-1362
頁數15
期刊Corporate Governance: An International Review
15
發行號6
DOIs
出版狀態Published - 2007 十一月

All Science Journal Classification (ASJC) codes

  • Business, Management and Accounting(all)
  • Strategy and Management
  • Management of Technology and Innovation

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