The Dynamics of Family Controlled Firms: Empirical Analysis using Long-term Japanese Data
| Project/Area Number |
15K03563
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Multi-year Fund |
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| Section | 一般 |
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| Research Field |
Money/ Finance
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| Research Institution | Kyoto Sangyo University |
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Principal Investigator |
SHIM Jungwook 京都産業大学, 経済学部, 准教授 (70706499)
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| Research Collaborator |
YOSHIKAWA Toru Singapore Management University, Lee Kong Chian School of Business, Professor
BENNEDSEN Morten University of Copenhagen (INSEAD), Copenhagen Business School (Economics and Political Science), Professor (Professor)
MEHROTRA Vikas University of Alberta, Alberta School of Business, Professor
WIWATTANAKANTANG Yupana National University of Singapore, Business School, Associate Professor
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| Project Period (FY) |
2015-04-01 – 2018-03-31
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| Project Status |
Completed (Fiscal Year 2017)
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| Budget Amount *help |
¥4,420,000 (Direct Cost: ¥3,400,000、Indirect Cost: ¥1,020,000)
Fiscal Year 2017: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Fiscal Year 2016: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2015: ¥2,730,000 (Direct Cost: ¥2,100,000、Indirect Cost: ¥630,000)
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| Keywords | Family Firms / Family Business / Ownership Structure / Board Interlocks / Data Construction / Literature Review / CEO Succession / Financial Constraint / Family Constraint / Dynamic Capabilities / Resource Dependence / Data Cleaning / Data Constrution |
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| Outline of Final Research Achievements |
It is widely thought that family control loosens as firms grow larger over time. Our analysis, based on a comprehensive sample of exchange listed family firms in post-war Japan, challenges this conventional view. We document that it is common that families keep control over board and management even when their ownership stake is largely diluted. In the second, family and financial constraints jointly determine the dynamic pattern of ownership dilution and family control. The family’s intangible assets such as reputation and competent family human resources correlate with family longevity.
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Report
(4 results)
Research Products
(7 results)
