Family firms during economic recession - An investigation of the performance of public Swedish family firms during a macroeconomic downturn
Abstract: The objective of this thesis is to investigate how public Swedish family firms managed to perform during the most recent recession that started in 2008. Accounting data is combined with information regarding ownership structure to examine family firms’ performance in comparison to non-family firms. Our evidence implies that family firms perform better in terms of operating performance (return on asset) relative to other public firms. Our study also establishes that family firms perform at their best when the company founder is still active within the firm. Further, the thesis also suggests that there is a positive relationship between enhanced control ownership and operative performance, which implies that the family advantage is not completely distinguishable.
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