Effect of family ownership on export intensity of family business1
| Authors and years | Theoretical framework | Independent variable | Sample | Methodology | Findings | |
|---|---|---|---|---|---|---|
| 1 | Manogna and Mishra (2021) | Not specified | Family ownership (1 if the family holds 10% of the share and it is represented as the single largest shareholders in a firm, 0 if not) | 2,695 Indian firms | Quantitative (regression analysis) | Negative |
| 2 | Yang et al. (2020) | SEW theory | Family ownership (% of the firm's equity held by family members) | 1,542 Chinese family SMEs | Quantitative (regression analysis) | Negative |
| 3 | Zhou et al. (2019) | Institution-based perspective | Family ownership (% of the firm's equity held by family members) | 274 Chinese family firms | Quantitative (regression analysis) | Positive |
| 2 | Ray et al. (2018) | Socio-emotional wealth + agency theory | Promoter family ownership (controlling family's aggregate equity shareholdings) | 303 Indian family firms | Quantitative (regression analysis–GLS) | Negative |
| 3 | Wasowska (2017) | not specified | Concentration of ownership (100% family) | 6,957 European family firms | Quantitative (regression analysis) | Not significant |
| 4 | Majocchi et al. (2017) | Transaction cost analysis (bifurcation bias) | Family influenced (not controlled) firms (1 or 0), external capital | 6,893 European family SMEs | Quantitative (regression analysis) | Positive |
| 5 | Pacheco (2017) | Agency theory | Family ownership (family or not) | 82 Portuguese wine firms | Quantitative (regression analysis) | Not significant |
| 6 | Memili et al. (2017) | Transaction cost theory | Family ownership (% of the firm's equity held by members of the family) | 386 S&P 500 firms | Quantitative (regression analysis) | Inverted U-shaped |
| 7 | Cho and Lee (2017) | Resource dependence theory + agency theory | Family ownership (% of shares held by the largest shareholder and other entities having a special relationship with the shareholder) | 232 Korean SMEs | Quantitative (GEE model) | Positive |
| 8 | Marin et al. (2017) | Not specified | Family ownership (% of the firm's equity held by family members) | 58 Spanish firms | Quantitative (regression analysis) | Positive |
| Majocchi et al. (2016) | Socio-emotional wealth + agency theory | Family ownership (first ultimate shareholder: families or others) | 1,315 English, Polish, Italia, French, Spanish firms | Quantitative (regression analysis) | Depend on the country: negative in UK but not in continental Europe | |
| 9 | Chen et al. (2014) | Agency theory + resource based view | Family ownership (% of the firm's equity held by family members) | 77 Taiwanese SMEs | Quantitative (regression analysis) | Positive |
| 10 | Sciascia et al. (2013) | Stewardship perspective + stagnation perspective + upper echelons perspective | Family ownership (% of the firm's equity held by the owning family) | 203 U S. family firms | Quantitative (ordinal regression analysis) | Inverted U-shaped |
| 11 | Calabrò et al. (2009) | not specified | CEO ownership (%) | 342 Norwegian firms | Quantitative (regression analysis) | Negative |
| 12 | Mitter et al. (2012) | Resource based view + agency theory + stewardship theory | Family influence (SFI)- ownership, management and board | 479 Austrian firms | Quantitative (regression analysis) | Inverse U-shaped form |
| 13 | Sciascia et al. (2012) | Stewardship perspective + stagnation perspective | Family ownership (% of the firm's equity held by family members) | 1,035 US family firms | Quantitative (regression analysis) | Inverted U-shaped |
| 14 | Arregle et al. (2012) | Resource dependence theory | External ownership (% of the firm's shares not held by members of the owner family) | 351 Swedish SMEs family-controlled | Quantitative (regression analysis) | Positive |
| 15 | Liu et al. (2011) | Not specified | Family ownership (% of the firm's equity held by family members) | 179 Taiwanese high-tech firms | Quantitative (regression analysis) | Negative |
| 16 | Fernandez and Nieto (2006) | Resource based view | Family ownership (family or not: firm belong to a family with one or more members in managerial positions) | Spanish SMEs | Quantitative (regression analysis) | Negative |
| 17 | Fernandez and Nieto (2005) | Resource based view | Family ownership (family or not: firm belong to a family with one or more members in managerial positions) | Spanish SMEs | Quantitative (regression analysis) | Negative |
| 18 | Zahra (2003) | Stewardship theory | Family ownership (% of the firm's equity held by the owning family and by inside directors who were also family members) | 409 US manufacturing firms | Quantitative (regression analysis) | Positive |
| Authors and years | Theoretical framework | Independent variable | Sample | Methodology | Findings | |
|---|---|---|---|---|---|---|
| 1 | Not specified | Family ownership (1 if the family holds 10% of the share and it is represented as the single largest shareholders in a firm, 0 if not) | 2,695 Indian firms | Quantitative (regression analysis) | Negative | |
| 2 | SEW theory | Family ownership (% of the firm's equity held by family members) | 1,542 Chinese family SMEs | Quantitative (regression analysis) | Negative | |
| 3 | Institution-based perspective | Family ownership (% of the firm's equity held by family members) | 274 Chinese family firms | Quantitative (regression analysis) | Positive | |
| 2 | Socio-emotional wealth + agency theory | Promoter family ownership (controlling family's aggregate equity shareholdings) | 303 Indian family firms | Quantitative (regression analysis–GLS) | Negative | |
| 3 | not specified | Concentration of ownership (100% family) | 6,957 European family firms | Quantitative (regression analysis) | Not significant | |
| 4 | Transaction cost analysis (bifurcation bias) | Family influenced (not controlled) firms (1 or 0), external capital | 6,893 European family SMEs | Quantitative (regression analysis) | Positive | |
| 5 | Agency theory | Family ownership (family or not) | 82 Portuguese wine firms | Quantitative (regression analysis) | Not significant | |
| 6 | Transaction cost theory | Family ownership (% of the firm's equity held by members of the family) | 386 S&P 500 firms | Quantitative (regression analysis) | Inverted U-shaped | |
| 7 | Resource dependence theory + agency theory | Family ownership (% of shares held by the largest shareholder and other entities having a special relationship with the shareholder) | 232 Korean SMEs | Quantitative (GEE model) | Positive | |
| 8 | Not specified | Family ownership (% of the firm's equity held by family members) | 58 Spanish firms | Quantitative (regression analysis) | Positive | |
| Socio-emotional wealth + agency theory | Family ownership (first ultimate shareholder: families or others) | 1,315 English, Polish, Italia, French, Spanish firms | Quantitative (regression analysis) | Depend on the country: negative in UK but not in continental Europe | ||
| 9 | Agency theory + resource based view | Family ownership (% of the firm's equity held by family members) | 77 Taiwanese SMEs | Quantitative (regression analysis) | Positive | |
| 10 | Stewardship perspective + stagnation perspective + upper echelons perspective | Family ownership (% of the firm's equity held by the owning family) | 203 U S. family firms | Quantitative (ordinal regression analysis) | Inverted U-shaped | |
| 11 | not specified | CEO ownership (%) | 342 Norwegian firms | Quantitative (regression analysis) | Negative | |
| 12 | Resource based view + agency theory + stewardship theory | Family influence (SFI)- ownership, management and board | 479 Austrian firms | Quantitative (regression analysis) | Inverse U-shaped form | |
| 13 | Stewardship perspective + stagnation perspective | Family ownership (% of the firm's equity held by family members) | 1,035 US family firms | Quantitative (regression analysis) | Inverted U-shaped | |
| 14 | Resource dependence theory | External ownership (% of the firm's shares not held by members of the owner family) | 351 Swedish SMEs family-controlled | Quantitative (regression analysis) | Positive | |
| 15 | Not specified | Family ownership (% of the firm's equity held by family members) | 179 Taiwanese high-tech firms | Quantitative (regression analysis) | Negative | |
| 16 | Resource based view | Family ownership (family or not: firm belong to a family with one or more members in managerial positions) | Spanish SMEs | Quantitative (regression analysis) | Negative | |
| 17 | Resource based view | Family ownership (family or not: firm belong to a family with one or more members in managerial positions) | Spanish SMEs | Quantitative (regression analysis) | Negative | |
| 18 | Stewardship theory | Family ownership (% of the firm's equity held by the owning family and by inside directors who were also family members) | 409 US manufacturing firms | Quantitative (regression analysis) | Positive |
Note(s): 1 The list covers only empirical quantitative researches regarding the relationship between export performance (measured by export intensity) and family ownership
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