Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

Family firms and financial performance: a meta-regression analysis

Family firms and financial performance: a meta-regression analysis The purpose of this paper is to carry out a meta-regression analysis upon the literature that examines the relationship between family firms and financial performance.Design/Methodology/ApproachInformation of publication and study characteristics from 61 primary studies, comprising 726 size effects was collected. In particular, three leading factors highlighted in narrative literature reviews analyzed were: the financial performance measures, the family–firm definitions and the estimation methodologies.FindingsOverall, a positive relationship between family involvement and financial performance was found. A series of results, those linked to return on assets (ROA) – earnings before interest, taxes, depreciation and amortization (EBITDA), suggest positive publication bias from family definition and negative publication bias when OLS is used. Tobin’s Q estimates show no linkage to certain traits and aspects of the research process.Originality/valueExisting literature review and meta-analysis studies show not concluding results on the family effect upon firm performance. The meta-regression analysis used in this paper allows to examine simultaneously effect size and publication bias. The latter effect is particularly salient in the approach and findings, and not present in previous studies. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Academia Revista Latinoamericana de Administración Emerald Publishing

Family firms and financial performance: a meta-regression analysis

Loading next page...
 
/lp/emerald-publishing/family-firms-and-financial-performance-a-meta-regression-analysis-zyRnbnhcWa
Publisher
Emerald Publishing
Copyright
© Emerald Publishing Limited
ISSN
1012-8255
DOI
10.1108/arla-09-2018-0213
Publisher site
See Article on Publisher Site

Abstract

The purpose of this paper is to carry out a meta-regression analysis upon the literature that examines the relationship between family firms and financial performance.Design/Methodology/ApproachInformation of publication and study characteristics from 61 primary studies, comprising 726 size effects was collected. In particular, three leading factors highlighted in narrative literature reviews analyzed were: the financial performance measures, the family–firm definitions and the estimation methodologies.FindingsOverall, a positive relationship between family involvement and financial performance was found. A series of results, those linked to return on assets (ROA) – earnings before interest, taxes, depreciation and amortization (EBITDA), suggest positive publication bias from family definition and negative publication bias when OLS is used. Tobin’s Q estimates show no linkage to certain traits and aspects of the research process.Originality/valueExisting literature review and meta-analysis studies show not concluding results on the family effect upon firm performance. The meta-regression analysis used in this paper allows to examine simultaneously effect size and publication bias. The latter effect is particularly salient in the approach and findings, and not present in previous studies.

Journal

Academia Revista Latinoamericana de AdministraciónEmerald Publishing

Published: Sep 24, 2019

Keywords: Family firms definition; Financial performance; Meta-regression analysis; Publication bias; definición de firma familiar; desempeño financiero; análisis de meta-regresión; sesgo de publicación

References