Performance of family firms during the global financial crisis: Does governance matter?

Husam Aldamen, Keith Duncan, Simone Kelly, Raymond McNamara

Research output: Chapter in Book/Report/Conference proceedingConference contributionResearchpeer-review

Abstract

We investigate whether better corporate governance impacts the performance of family versus non-family firms during the Global Financial Crisis (GFC). If good governance matters then its impact should be amplified during times of exogenous financial shocks.Furthermore the impact of governance will be more pronounced for family firms as family firms are more resilient, have greater access to survival capital and have a longer term decision making focus. We find that family firms have better governance but family firms have a lower earnings weight in valuation models. However we do find that better governance increased the variability in value however family firms lowered the impact of earnings on variability in value during the GFC.
Original languageEnglish
Title of host publicationProceedings of Family Business Australia 2011 Research & Education Symposium
EditorsD. Casparsz, J. Thomas
Place of PublicationSydney
PublisherFamily Business Australia
Pages1-17
Publication statusPublished - 2011
EventFBA Family Business Research & Education Symposium - Hyatt Hotel, Perth, WA, Australia
Duration: 31 Aug 201131 Aug 2011
http://www.fambiz.org.au/documents/FBA-2011-Research-and-Education-Symposium-Invitation.pdf

Conference

ConferenceFBA Family Business Research & Education Symposium
CountryAustralia
CityPerth, WA
Period31/08/1131/08/11
Internet address

Fingerprint

Family firms
Global financial crisis
Governance
Decision making
Corporate governance
Financial shocks
Valuation model

Cite this

Aldamen, H., Duncan, K., Kelly, S., & McNamara, R. (2011). Performance of family firms during the global financial crisis: Does governance matter? In D. Casparsz, & J. Thomas (Eds.), Proceedings of Family Business Australia 2011 Research & Education Symposium (pp. 1-17). Sydney: Family Business Australia.
Aldamen, Husam ; Duncan, Keith ; Kelly, Simone ; McNamara, Raymond. / Performance of family firms during the global financial crisis: Does governance matter?. Proceedings of Family Business Australia 2011 Research & Education Symposium. editor / D. Casparsz ; J. Thomas. Sydney : Family Business Australia, 2011. pp. 1-17
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Aldamen, H, Duncan, K, Kelly, S & McNamara, R 2011, Performance of family firms during the global financial crisis: Does governance matter? in D Casparsz & J Thomas (eds), Proceedings of Family Business Australia 2011 Research & Education Symposium. Family Business Australia, Sydney, pp. 1-17, FBA Family Business Research & Education Symposium, Perth, WA, Australia, 31/08/11.

Performance of family firms during the global financial crisis: Does governance matter? / Aldamen, Husam; Duncan, Keith; Kelly, Simone; McNamara, Raymond.

Proceedings of Family Business Australia 2011 Research & Education Symposium. ed. / D. Casparsz; J. Thomas. Sydney : Family Business Australia, 2011. p. 1-17.

Research output: Chapter in Book/Report/Conference proceedingConference contributionResearchpeer-review

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Aldamen H, Duncan K, Kelly S, McNamara R. Performance of family firms during the global financial crisis: Does governance matter? In Casparsz D, Thomas J, editors, Proceedings of Family Business Australia 2011 Research & Education Symposium. Sydney: Family Business Australia. 2011. p. 1-17