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Top management teams and performance in non-listed family firms

Published online by Cambridge University Press:  16 January 2014

M Katiuska Cabrera-Suárez  and
Josefa D Martín-Santana
M Katiuska Cabrera-Suárez*
Affiliation:
Facultad de Economía, Empresa y Turismo, Edificio Departamental de Empresariales, Campus de Tafira, Universidad de Las Palmas de Gran Canaria, Las Palmas de Gran Canaria, Spain
Josefa D Martín-Santana
Affiliation:
Facultad de Economía, Empresa y Turismo, Edificio Departamental de Empresariales, Campus de Tafira, Universidad de Las Palmas de Gran Canaria, Las Palmas de Gran Canaria, Spain
*
Corresponding author: Kcabrera@dede.ulpgc.es
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Abstract

Supporting on recent theoretical approaches to the concept of familiness based on the notion of social capital, this study analyzes the composition of top management teams in non-listed family firms and its effect on the performance of these firms. An empirical analysis comprising 929 Spanish private family firms highlights the positive and significant influence of the inclusion of non-family managers, the family nature of top executives, as well as the presence of the founder. The study includes no significant results regarding homogeneity within family managers, or the interaction between a top family executive and the proportion of non-family managers.

Keywords

family firmtop management teamsfamilinessperformance
Type
Research Article
Information
Journal of Management & Organization , Volume 19 , Issue 4 , July 2013 , pp. 405 - 423
Copyright
Copyright © Cambridge University Press and Australian and New Zealand Academy of Management 2013 

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