TY - JOUR
T1 - The persistence of family firms
T2 - How does performance threshold affect family firm exit?
AU - Symeonidou, Noni
AU - De Tienne, Dawn
AU - Chirico, Francesco
PY - 2021/3/1
Y1 - 2021/3/1
N2 - Research on family firms provides mixed evidence of the effect of family ownership on firm performance and exit outcomes. Drawing on threshold theory and the socioemotional wealth perspective, we argue that family firms have lower performance thresholds than non-family firms, reducing the likelihood of firm exit. Using a longitudinal dataset of 1,191 firms over the period 2008–2011, we find support for this contention, suggesting that performance threshold is an important, yet poorly studied, construct for understanding exits of family versus non-family firms.
AB - Research on family firms provides mixed evidence of the effect of family ownership on firm performance and exit outcomes. Drawing on threshold theory and the socioemotional wealth perspective, we argue that family firms have lower performance thresholds than non-family firms, reducing the likelihood of firm exit. Using a longitudinal dataset of 1,191 firms over the period 2008–2011, we find support for this contention, suggesting that performance threshold is an important, yet poorly studied, construct for understanding exits of family versus non-family firms.
M3 - Article
JO - Small Business Economics
JF - Small Business Economics
SN - 0921-898X
ER -