Corporate governance and family firm performance during the Global Financial Crisis
Author | Aldamen H. |
Author | Duncan K. |
Author | Kelly S. |
Author | McNamara R. |
Available date | 2020-08-18T08:34:17Z |
Publication Date | 2020-01-01 |
Publication Name | Accounting and Finance |
Resource | Scopus |
Citation | Aldamen, H., Duncan, K., Kelly, S., & McNamara, R. (2020). Corporate governance and family firm performance during the Global Financial Crisis. Accounting & Finance, 60(2), 1673-1701. |
ISSN | 0810-5391 |
Abstract | We investigate the impact of corporate governance on accounting and market performance relationships of family firms during the Global Financial Crisis (GFC). We expect the monitoring aspects of corporate governance to complement the long-term orientation of family firms, improving the value relevance of accounting and market performance during times of exogenous financial shocks such as the GFC. We find that the family-firm value is more sensitive to book value than earnings changes. We also find better corporate governance, irrespective of whether it is a family firm or non-family firm, is associated with better accounting and market performance during the GFC. - 2019 Accounting and Finance Association of Australia and New Zealand |
Language | en |
Publisher | Blackwell Publishing |
Subject | Accounting performance Corporate governance Family business Firm value Global Financial Crisis Market performance |
Type | Article |
Pagination | 1673-1701 |
ESSN | 1467-629X |
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