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Sensitivity to Shocks in Family Firms
Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
(English)Manuscript (preprint) (Other academic)
Abstract [en]

In this study I examine the sensitivity to industry shocks in Swedish family firms. Family firms are believed to be more risk averse, have longer time horizons, and family owners are more easily identified with their company and its actions. I find that employment and sales in non-listed family firms are less sensitive to industry sales shocks. By being more cautious in terms of employment and sales, family firms could potentially function as to smooth out business cycles. The empirical analysis is based on full population data on Swedish firms from 1993 to 2009. By using data from tax registers, I am able to identify all family firms, both listed and non-listed. This has previously not been feasible. I also present tentative results on differences in wages and employment turnover. The estimations indicate that non-listed family firms pay lower wages on average. Moreover, family firms are found to have a lower probability of downsizing and growing in terms of employment. In contrast to earlier studies, no effect on any of the outcomes are found for listed firms. 

National Category
Economics
Identifiers
URN: urn:nbn:se:liu:diva-100219OAI: oai:DiVA.org:liu-100219DiVA: diva2:660836
Available from: 2013-10-31 Created: 2013-10-31 Last updated: 2013-11-03
In thesis
1. Family Matters: Essays on Family Firms and Employment Protection
Open this publication in new window or tab >>Family Matters: Essays on Family Firms and Employment Protection
2013 (English)Doctoral thesis, comprehensive summary (Other academic)
Abstract [en]

This thesis is a study of firm dynamics, family ownership, and employment protection. It addresses the implications of employment protection on firm productivity and how family owned firms react differently with regard to economic shocks. It also investigates whether family ownership matters for the probability of exhibiting high growth. By using a novel data identification strategy, family ownership is identified in full population register data. The thesis also highlights some important caveats in the official statistics on self-employment.

Abstract [sv]

Denna avhandling behandlar företagsdynamik, familjeägande och anställningsskydd. I avhandlingen analyseras anställningsskyddet och hur det påverkar företagens produktivitet, samt hur familjeägda företag reagerar på chocker inom industrin. I avhandlingen analyseras också hur familjeägande påverkar sannolikheten för ett företag att uppnå en hög tillväxttakt. Genom att kombinera olika statistikkällor kan samtliga familjeföretag i den den svenska företagspopulationen identifieras. Avhandlingen belyser också några av de problem som finns i den officiella statistiken över egenföretagare. 

Place, publisher, year, edition, pages
Linköping: Linköping University Electronic Press, 2013. 35 p.
Series
Linköping Studies in Arts and Science, ISSN 0282-9800 ; 592
Keyword
Family firms, employment protection, firm dynamics, high-growth firms, Familjeföretag, anställningsskydd, företagsdynamik, snabbväxande företag
National Category
Economics and Business Economics Business Administration
Identifiers
urn:nbn:se:liu:diva-100156 (URN)10.3384/diss.diva-100156 (DOI)978-91-7519-495-0 (ISBN)
Public defence
2013-11-29, ACAS, Hus A, Campus Valla, Linköpings universitet, Linköping, 10:15 (English)
Opponent
Supervisors
Available from: 2013-10-30 Created: 2013-10-30 Last updated: 2015-06-02Bibliographically approved

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Bjuggren, Carl Magnus

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CiteExportLink to record
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Citation style
  • apa
  • harvard1
  • ieee
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Language
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