Who does it best? Family and nonfamily owners and leaders navigating institutional development in emerging markets
Abstract
Building on the institution-based view and agency theory, this paper studies the relationship between institutional development, family ownership, family leadership, and firm profitability in emerging markets. We propose that national institutional development reduces agency costs and improves the profitability of emerging market firms, but that this effect varies for family vs. nonfamily firms. We also consider the heterogeneity among family...
Paper Details
Title
Who does it best? Family and nonfamily owners and leaders navigating institutional development in emerging markets
Published Date
Feb 1, 2020
Journal
Volume
107
Pages
197 - 210
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Notes
History