Ownership, Productivity and Firms´ Life-Cycle

Aurora Galego; Natércia Mira; Jacinto Vidigal Silva

doi:10.24310/ejfbejfb.v8i2.5228

Ownership, Productivity and Firms´ Life-Cycle

Authors

Aurora Galego Universidade de Évora and CEFAGE-UE Portugal http://orcid.org/0000-0002-0376-0078
Natércia Mira Universidade de Évora Portugal
Jacinto Vidigal Silva Universidade de Évora and CEFAGE-UE Portugal https://orcid.org/0000-0003-1475-2177

DOI:

https://doi.org/10.24310/ejfbejfb.v8i2.5228

Keywords:

Family firm, Productivity, Life-cicle, Endogeneity, Cobb-Douglas production function

Abstract

Empirical evidence on productivity differences between family owned and non-family owned firms is still sparse and reveals conflicting results. Unlike previous studies, we analyse the effect firm´s life cycle on productivity using a large sample of non-listed firms. Furthermore, we consider a model with heterogeneity of inputs between the two types of firms and addressing possible endogeneity problems. We conclude that there are no significant differences in productivity between family and non-family firms, for both startup/growth and mature stages of life cycle. Furthermore, labour seems to be the main determinant of family firms’ productivity, which is especially evident for firms in the mature stage.

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Published

2019-03-01

How to Cite

Galego, A., Mira, N., & Silva, J. V. (2019). Ownership, Productivity and Firms´ Life-Cycle. European Journal of Family Business, 8(2), 139–150. https://doi.org/10.24310/ejfbejfb.v8i2.5228

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Issue

Vol. 8 No. 2 (2018)

Section

Research paper (SI)

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