Family Firms’ Profile: Leiria Region
DOI:
https://doi.org/10.24310/ejfbejfb.v9i1.5593Keywords:
Family firms, Business profile, Family commitment, Family identity, Leiria/PortugalAbstract
Most firms around the world are family firms. Their relevance and contribution to country’s economy is globally recognized. Therefore, understand these companies in detail is crucial. This study aims to design family firms profile using a sample of 233 family firms of Leiria region. Results show that most of respondent firms are exclusively owned and controlled by the family. Moreover, 70% are in the first generation, as 33% are in the business for less than 10 years. In mean, more than two family members actively work in the firm. The family identity is present in the firm, as well as the family culture and commitment. The family is an important influence in the business.
Downloads
Metrics
References
AEP - Associação Empresarial Portuguesa (2011). Livro Branco da Sucessão Empresarial. O Desafio da Sucessão Empresarial em Portugal. Associação Empresarial de Portugal
Anderson, R., and Reeb, D. (2003). Founding-family ownership and firm performance: Evidence from the S&P500. Journal of Finance¸ 58(3), 1301-1328.
APEF – Associação Portuguesa de Empresas Familiares (2018) retrived from: http://www.empresasfamiliares.pt/.
Astrachan, J., Klein, S., and Smyrnios, K. (2002). The F-PEC Scale of Family Influence: A Proposal for Solving the Family Business Definition Problem. Family Business Review, 15(1), 45-58.
Barontini, R., and Caprio, L. (2006). The effect of family control on firm value and performance: Evidence from Continental Europe. European Financial Management, 12, 689-723.
Basco, R. (2013). The family’s effect on family firm performance: A model testing the demographic and essence approaches. Journal of Family Business Strategy, 4(1), 42–66.
Berle, A., and Means, G. (1932). The Modern Corporation and Private Property, Hancourt, Brace & World, Inc. Copyright, New York (Republished 1968).
Braun, M., and Sharma, A. (2007). Should the CEO also be chair of the board? An empirical examination of family-controlled public firms. Family Business Review, 20(2), 111-126.
Burkart, M., Panunzi, F., and Shleifer, A. (2003). Family Firms. Journal of Finance, 58, 2167–2201.
Chami, R. (2001). What is Different about Family Businesses? Working Paper International Monetary Fund, WP/01/70.
European Family Business (2018). Retrieved from http://www.europeanfamilybusinesses.eu/.
Gersick, K., Davis, J., Hampton, M., and Lansberg, I. (1997). Generation to generation: Life cycles of the family business. Harvard Business School Press, Boston, Massachusetts - EUA (1st edition).
Gomez-Mejia, L., Cruz, C., Berrone, P., and De Castro, J. (2011). The Bind that Ties: Socioemotional Wealth Preservation in Family Firms. The Academy of Management Annual, 5:1, 653-707.
Gomez-Mejia, L., Haynes, K., Nuñez-Nickel, M., Jacobson, K., and Moyano-Fuentes, J. (2007). Socioemotional Wealth and Business Risks in Family-controlled Firms: Evidence from Spanish Olive Oil Mills. Administrative Science Quarterly, 52, 106-137.
Gomez-Mejia, L., Larraza-Kintana, M., e Makri, M. (2003). The determinants of executive compensation in family-controlled public corporations. Academy of Management Journal, 46(2), 226-237.
Henrique, C. (2008). A governação nas empresas familiares. Tese de mestrado em Finanças do ISCTE.
INE – Instituto Nacional de Estatísticas – Statistics Portugal. Retrived from https://ine.pt/
Jaskiewicz, P., González, V., Menéndez, S., and Schiereck, D. (2005). Long-run IPO Performance Analysis of German and Spanish Family-Owned Business. Family Business Review, 18(3), 179-202.
Jensen, M., and Meckling, W. (1976). Theory of the Firm: Managerial Behaviour, Agency Cost and Ownership Structure. Journal of Financial Economics, 3, 305–360.
JLM Consultores de Gestão, Sargento, A., Lopes, A., and Fernandes, M. (2014). Plano Estratégico - Leiria Região de Excelência. Blue Print Design e Comunicação.
Kellermanns, F., Eddleston, K., Barnett, T., and Pearson, A. (2008). An Exploratory Study of Family Member Characteristics and Involvement: Effects on Entrepreneurial Behavior in the Family Firm. Family Business Review, 21(1), 1–14.
La Porta, R., Lopez-de-Silanes, F., and Shleifer, A. (1999). Corporate Ownership Around the World. Journal of Finance, 54, 471–517.
Lisboa, I. (2018). Sucessão nas empresas familiares e o impacto no endividamento. Evidência para as PME da região de Leiria. Revista de Gestão dos Países de Língua Portuguesa, 17(2), 26-42.
Martins, J. (1999). Empresas Familiares, GEPE -Gabinete de Estudos e Prospectiva Económica do Ministério da Economia, Lisboa – Portugal (1st edition).
Martin-Reyna, J., and J. Duran-Encalada (2012). The Relationship among Family Business, Corporate Governance and Firm Performance: Evidence from the Mexican Stock Exchange. Journal of Family Business Strategy, 3, 106-117.
Miller, D., Breton-Miller, I., Lester, R., and Cannella Jr, A. (2007). Are Family Firms Really Superior Performers? Journal of Corporate Finance, 13, 829-858.
Miralles-Marcelo, J., Miralles-Quirós, M., and Lisboa, I. (2014). The impact of family control on firm performance: Evidence from Portugal and Spain. Journal of Family Business Strategy, 5(2), 156–168.
Nieto, M., Casasola, M., Fernández, Z. and Usero, B. (2009). Impacto de la Implicación Familiar y de Otros Accionistas de Referencia en la Creación de Valor. Revista de Estudios Empresariales, 2, 5-20.
Pordata (2018). Retrived from: https://www.pordata.pt/.
Pimentel, D., Scholten, M., and Couto, J. (2017). Profiling Family Firms in the Autonomous Region of the Azores. Revista Portuguesa de Estudos Regionais, 46, 89-107.
Schulze, W., Lubatkin, M., Dino, R., and Buchholtz, A. (2001). Agency Relationships in Family Firms: Theory and Evidence. Organization Science, 12, 99-116.
Sraer, D., and Thesmar, D. (2007). Performance and Behavior of Family Firms: Evidence from the French Stock Market. Journal of the European Economic Association, 5, 709-751.
Villalonga, B., and Amit, R. (2006). How Do Family Ownership, Control, and Management affect Firm Value? Journal of Financial Economics, 80, 385-417.
Villalonga, B., and Amit, R. (2008). How are U.S. family firms controlled? Review of Financial Studies, 22(8), 3047-3091.
Villalonga, B., Amit, R., Trujillo, M., and Guzmán, A. (2015). Governance of Family Firms. Annual Review of Financial Economics, 7, 635-654.
Ward, H. (1987). Structural Power—A Contradiction in Terms? Political Studies, 35(4), 593-610.
Wortman, M. (1994). Theoretical foundations for family-owned business: A conceptual and research-based paradigm. Family Business Review, 7(1)
Published
How to Cite
Issue
Section
License
Copyright generates two different rights: moral rights and patrimonial rights that EJFB recognizes and respects. Moral rights are those relating to the recognition of the authorship. They are rights of a personal nature that are perpetual, inalienable, unseizable and imprescriptible as consequence of the indivisible union of the author and his/her work. Patrimonial rights are those that can be derived from the reproduction, distribution, adaptation or communication of the work, among others.
Authors who publish in EJFB retain the copyright of their work and grant the right of its first publication to the journal in open access. EJFB is authorized to reproduce, distribute, disseminate or communicate the work under a CC BY-NC-SA 4.0 License. This means that you are free to share and adapt this work under the following terms:
- Attribution — You must give appropriate credit to its author(s), which implie the right to be reconognized and cited correctly.
- NonCommercial — You may not use the material for commercial purposes.
- ShareAlike — If you remix, transform, or build upon the material, you must distribute your contributions under the same license as the original.
.png){kind=logo}
27.png)
