Professionalization of Family Business and Performance Effec

This study seeks to understand the governance of post-initial public offering (IPO) family firms and its impact on performance. Using an analysis of a balanced panel data set of 205 publicly listed firms in Taiwan spanning 10 years (2,050 firm-years), we found that extensive family control has a ne...

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Bibliographic Details
Main Author: Lien, Yung-Chih
Format: Article
Language:English
Published: 2014
Subjects:
Corporate Governance
Post-Ipo Performance
Professionalization
Family Controlled
LEADER 01137nab a22001697a 4500
008 160615b2014 xxu||||| |||| 00| 0 eng d
100 |a Lien, Yung-Chih 
245 |a Professionalization of Family Business and Performance Effec  |c Lien, Yung-Chih. 
260 |c 2014 
300 |a 346 - 364 
520 |a This study seeks to understand the governance of post-initial public offering (IPO) family firms and its impact on performance. Using an analysis of a balanced panel data set of 205 publicly listed firms in Taiwan spanning 10 years (2,050 firm-years), we found that extensive family control has a negative impact on the post-IPO performance and that nonfamily block shareholders may divest their stockholdings in these firms to protect their investments. To sustain equity support from their block shareholders, post-IPO family firms should combine the use of family control with professional management in their corporate governance structure. 
650 |a Corporate Governance 
650 |a Post-Ipo Performance 
650 |a Professionalization 
650 |a Family Controlled 
773 |a Family Business Review  |d December 
999 |c 42409  |d 42409 

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