PERFORMANCE AND BEHAVIOR OF FAMILY FIRMS: EVIDENCE FROM THE FRENCH STOCK MARKET

By David Sraer, David Thesmar. 2007

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Citations in the corpus

Employment and Wage Insurance within Firms: Worldwide Evidence (2018, positive): “Several papers examine the difference between family and non-family firms in France, where family firms appear to provide more employment insurance: Sraer and Thesmar (2007) and Bassanini et al. (2013) demonstrate that in heir-managed firms employment is less sensitive to industry-wide sales…”
Innovation and Family Ownership: Empirical Evidence from India (2014, result): “The positive association between family ownership and innovation further supports the findings of Sraer and Thesmar (2007) that family-owned firms are less sensitive to industry shocks.”
Trends in family business research (2013, background): “Other studies explore the family effect on firm performance and compare firm value between family companies and widely held corporations (Kellermanns et al. 2010; Chu 2009; Saito 2008; Sraer and Thesmar 2007).”
Family Involvement in Ownership and Management: Exploring Nonlinear Effects on Performance (2008, background): “The positive findings of Anderson and Reeb (2003), Lee (2006), Villalonga and Amit (2006), Martínez et al. (2007),and Sraer and Thesmar (2007) are then to be limited to large listed firms.”
How to Pay Nonfamily Managers in Large Family Firms: A Principal—Agent Model (2011, neutral): “…and Cucculelli and Micucci (2008) find a negative effect of within-family succession on firm performance in Danish and Italian family firms, whereas Sraer and Thesmar (2007), using a data set of firms listed on the French stock market, find that firms run by descendants of the founder outperform…”
Large risks, limited liability, and dynamic moral hazard (2010, background): “12Empirically, this assumption is particularly relevant in the case of small businesses, where the entrepreneur-manager is often indispensable for operating the firm efficiently (Sraer and Thesmar (2007)).”
The Dynamics of Employment Growth: New Evidence from 18 Countries (2014, background): “Market size (Desmet and Parente, 2010); multi-national status (e.g. Criscuolo and Martin, 2009); family ownership (e.g. Sraer and Thesmar, 2007); and international openness of the economy (Eaton et al; 2004) have also been found to be related to firm size.”
Family Firms, Employee Satisfaction, and Corporate Performance (2015, background): “Prior research linking family control to firm performance shows mixed evidence: Anderson and Reeb (2003) and Sraer and Thesmar (2007) document that family firms outperform nonfamily firms, and Fahlenbrach (2009) reports that founder-CEO firms earn positive abnormal returns.”