Analysis of social performance and board of directors in family firms: evidence from quoted Italian companies

2013 ◽  
pp. 82-102
Author(s):  
Patricia Bachiller ◽  
Maria-Cleofe Giorgino ◽  
Sergio Paternostro
Keyword(s):  
Board Of Directors ◽  
Family Firms ◽  
Social Performance

scholarly journals Limiting role of resource dependence: an examination of director interlocks, board meetings and family ownership

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Vidya Sukumara Panicker ◽  
Rajesh Srinivas Upadhyayula
Keyword(s):  
Board Of Directors ◽  
Resource Dependence ◽  
Family Firms ◽  
Emerging Market ◽  
Resource Provisioning ◽  
Independent Directors ◽  
Family Ownership ◽  
Independent Director ◽  
Content Type

PurposeThis paper attempts to examine the activity and involvement of board of directors in internationalization activities of firms in emerging markets, by evaluating the resource provisioning roles of interlocks provided by board of directors, and the frequency of board meetings. We demonstrate that the effectiveness of board involvement is contingent upon the levels of family ownership in firms since family ownership could impact the firm’s ability to utilize the presence of different types of board members.Design/methodology/approachThe authors test our hypotheses on a sample of listed Indian companies, extracted from the Prowess database published by the Centre for Monitoring Indian Economy (CMIE), a database of the financial performance of Indian companies. On a panel of 3,133 firm years of 605 unique Indian firms with foreign investments, over a time period of 2006–2017, the authors apply different estimation techniques.FindingsThe results demonstrate that both board meeting frequency and director interlocks are instrumental in supporting internationalization activities in emerging market firms. However, family ownership moderates the role of insider and independent interlocks on internationalization investments in different ways; the authors find that interlocks provided by independent directors support internationalization activities in family firms, whereas those provided by insider directors do not. Further, the study also finds that board meetings are less effective in internationalization of family firms.Practical implicationsThe authors conclude that family firms aiming at international diversification require to develop more connected and networked independent directors to enable internationalization in firms. While independent director interlocks enhance the international investments, it is also useful to know that board meetings are ineffective in utilizing the resources in family firms. This points to the possibility that family firms should device mechanisms to integrate family meetings with board meetings so that they can utilize the within-family processes to aid in their internationalization decisions.Originality/valueThe study contributes to resource dependence theory by understanding its limiting role in family firms. Theoretically, it helps delineate the limiting resource provision role of the insider directors vis-à-vis independent directors. The authors argue that the resource provision role of insider director interlocks does not effectively help in internationalization in comparison to independent director interlocks in family-dominated firms. Consequently, the study shows the limiting role of resource provision and utilization by family-owned firms in comparison to non-family-owned firms.

Who are the best performers? The environmental social performance of family firms

2018 ◽  
Vol 9 (1) ◽  
pp. 33-43 ◽  
Author(s):  
Georges Samara ◽  
Dima Jamali ◽  
Vicenta Sierra ◽  
Maria Jose Parada
Keyword(s):  
Family Firms ◽  
Social Performance

Influence of board of directors on firm performance: Analysis of family and non-family firms

2014 ◽  
Vol 12 (3) ◽  
pp. 230-253 ◽  
Author(s):  
Patricia Bachiller ◽  
Maria Cleofe Giorgino ◽  
Sergio Paternostro
Keyword(s):  
Firm Performance ◽  
Performance Analysis ◽  
Board Of Directors ◽  
Family Firms

scholarly journals Earnings Quality, Family Influence and Corporate Governance: Empirical Evidence from Malaysia

2021 ◽  
Author(s):  
◽  
Wan Adibah Binti Wan Ismail
Keyword(s):  
Corporate Governance ◽  
Board Of Directors ◽  
Audit Committee ◽  
Family Firms ◽  
Earnings Quality ◽  
Governance Structure ◽  
Family Influence ◽  
Family Ownership ◽  
The Board Of Directors ◽  
And Control

<p>This study investigates whether family ownership and control, and corporate governance are associated with earnings quality, and whether family influence in firms weakens the association between corporate governance and earnings quality. This study uses a panel sample of 527 publicly traded firms over the period 2003-2008 from the Malaysia Stock Exchange (Bursa Malaysia). Identifying family firms as firms in which family members hold a significant portion of shares and possess control over the board of directors, this study finds that family firms have significantly higher earnings quality. The results remain unchanged, even after using alternative measures of earnings quality and family influence. This study also finds that the earnings quality of firms in Malaysia is positively associated with the size and independence of the audit committee and negatively associated with the size of the board of directors. However, these relationships exist only for nonfamily firms. These results on the corporate governance variables suggest that the effectiveness of corporate governance could be mediated by family influence. Using multivariate regressions that include interaction variables for corporate governance and family firms, the study finds that the relationship between corporate governance and earnings quality is mediated by family ownership and control. The result is consistent with the argument that the monitoring role of corporate governance reduces when there is substantial control by family owners in a firm. Overall, this study concludes that family ownership and control drives higher quality earnings for firms regardless of their corporate governance structure.</p>

scholarly journals Family Firms And Corporate Social Responsibility (CSR): Preliminary Evidence From The French Stock Market

2014 ◽  
Vol 30 (4) ◽  
pp. 971 ◽  
Author(s):  
Issam Laguir ◽  
Jamal Elbaz
Keyword(s):  
Family Member ◽  
Family Involvement ◽  
Family Firms ◽  
Corporate Social Performance ◽  
Social Performance ◽  
Pearson Correlation ◽  
Ordinary Least Squares ◽  
Annual Reports ◽  
Least Squares Regression ◽  
Corporate Social

This paper examines the CSR practices of family firms listed in the French financial market and distinguishes between those managed by a family member CEO and those managed by a competent external CEO. We adopt an exploratory approach and begin with a content analysis of the annual reports from family firms listed in the CAC 40 index during the 2005-2011 period. We then conduct various statistical techniques (e.g., Pearson correlation analysis and ordinary least squares regression analysis) to study the relationships among social performance and family involvement. This paper is the first to provide a preliminary assessment of French family firms CSR practices in the current economic context. The study suggests that family firms intensify their CSR efforts during the 2005-2011 period. Our study also reveals that family firms managed by competent external CEOs show better social performance than those managed by family member CEOs. Indeed, the empirical results consistently show a negative and statistically significant association between family involvement and corporate social performance.

The mediating effect of ethical codes on the link between family firms and their social performance

2017 ◽  
Vol 50 (6) ◽  
pp. 756-765 ◽  
Author(s):  
Beatriz Cuadrado-Ballesteros ◽  
Lázaro Rodríguez-Ariza ◽  
Isabel-María García-Sánchez ◽  
Jennifer Martínez-Ferrero
Keyword(s):  
Family Firms ◽  
Social Performance ◽  
Mediating Effect ◽  
Ethical Codes
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