Family Firms and Compliance: Reconciling the Conflicting Predictions Within the Socioemotional Wealth Perspective

Luiz Ricardo Kabbach de Castro, Ruth V. Aguilera, Rafel Crespí-Cladera

Producció científica: Article en revista indexadaArticleAvaluat per experts

51 Cites (Scopus)

Resum

We draw on the socioemotional wealth perspective to examine the influence of family ownership on firms’ noncompliance with corporate governance codes. Our results yield an inverted U-shaped effect of family ownership on noncompliance. While the family influence and control dimension leads to high levels of noncompliance, socioworthiness stemming from image and reputation dimension lessens noncompliance. In the presence of potential agency conflict, the control dimension prevails over reputation, even in countries with strong governance institutions. Our findings have critical implications for family business theory, for governance policy making and also for better understanding corporate governance in family firms.

Idioma originalAnglès
Pàgines (de-a)137-159
Nombre de pàgines23
RevistaFamily Business Review
Volum30
Número2
DOIs
Estat de la publicacióPublicada - 1 de juny 2017

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