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Analysis of the Impact of Family Ownership and Family Control on Firm Performance during the Periods Before and After the 2008 Crisis : Evidence from Indonesia
https://doi.org/10.18999/forids.49.4
https://doi.org/10.18999/forids.49.444d7ea4d-9590-4376-9021-79857c97d3dc
名前 / ファイル | ライセンス | アクション |
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04.pdf (214.5 kB)
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Item type | 紀要論文 / Departmental Bulletin Paper(1) | |||||
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公開日 | 2019-05-14 | |||||
タイトル | ||||||
タイトル | Analysis of the Impact of Family Ownership and Family Control on Firm Performance during the Periods Before and After the 2008 Crisis : Evidence from Indonesia | |||||
言語 | en | |||||
著者 |
TANJUNG, Miranda
× TANJUNG, Miranda |
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アクセス権 | ||||||
アクセス権 | open access | |||||
アクセス権URI | http://purl.org/coar/access_right/c_abf2 | |||||
キーワード | ||||||
主題Scheme | Other | |||||
主題 | Corporate Governance | |||||
キーワード | ||||||
主題Scheme | Other | |||||
主題 | Family Firm | |||||
キーワード | ||||||
主題Scheme | Other | |||||
主題 | Family Ownership | |||||
キーワード | ||||||
主題Scheme | Other | |||||
主題 | Family Control | |||||
キーワード | ||||||
主題Scheme | Other | |||||
主題 | Firm Performance | |||||
キーワード | ||||||
主題Scheme | Other | |||||
主題 | Indonesia | |||||
抄録 | ||||||
内容記述 | The article observes the relationships among families concentrated ownership, control and firm-level performance during the periods before and after 2008 financial crisis in Indonesia, where the structures of business entities are different from those in the developed market. Employing various econometric analyses, including a more robust model of the GMM estimator, results of the test are mixed for the two observation periods. This study reveals that family firm, ownership and founding family control positively affect firm performance before the financial crisis. However, these positive influences battered in the post-crisis period, hence, signifying the poor performance of family-controlled firms during the after crisis years. Family generations, represented by the second and third generations of the firms’ founders, also are part of the reasons for the underperformances, since higher agency costs are borne by the firms. This study also confirms previous research which finds a negative impact of family ownership on performance after financial crisis time. These findings can be seen as an empirical example of the principal-principal problem (agency conflict II) when the firm’s largest shareholders deteriorate the wealth of minority shareowners in a weak corporate governance and legal environment. | |||||
言語 | en | |||||
内容記述タイプ | Abstract | |||||
出版者 | ||||||
言語 | ja | |||||
出版者 | 名古屋大学大学院国際開発研究科 | |||||
言語 | ||||||
言語 | eng | |||||
資源タイプ | ||||||
資源 | http://purl.org/coar/resource_type/c_6501 | |||||
タイプ | departmental bulletin paper | |||||
出版タイプ | ||||||
出版タイプ | VoR | |||||
出版タイプResource | http://purl.org/coar/version/c_970fb48d4fbd8a85 | |||||
ID登録 | ||||||
ID登録 | 10.18999/forids.49.4 | |||||
ID登録タイプ | JaLC | |||||
ISSN(print) | ||||||
収録物識別子タイプ | PISSN | |||||
収録物識別子 | 1341-3732 | |||||
ISSN(Online) | ||||||
収録物識別子タイプ | EISSN | |||||
収録物識別子 | 2189-9126 | |||||
書誌情報 |
ja : 国際開発研究フォーラム en : Forum of International Development Studies 巻 49, 号 4, p. 1-18, 発行日 2019-03 |
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著者版フラグ | ||||||
値 | publisher |