circumscribe lists available at ScienceDirect
Journal of International Management
The in?uence of national culture and institutional voids on family ownership of large ?rms: A country level empirical study
Subrata Chakrabarty ?
Texas A&M University, part of Management, Mays Business School, 420 Wehner Building, 4221 TAMU, College Station, Texas 77843-4221, United States
a r t i c l e
i n f o
a b s t r a c t
There is considerable variation across countries in both(prenominal) the extent to which large publicly listed ?rms are family-owned and the dominance of much(prenominal) family-owned ?rms in stock markets. The literature presents competing theoretical viewpoints on what in?uences such country-level variation. On one hand, institutional economists suggest that institutional voids crumb have a strong in?uence. On the other hand, cultural sociologists suggest that a countrys culture can have a strong in?uence. One eccentric person of institutional void is a lack of institutional norms and regulations infallible for monitoring contracts (which can discourage owners from hiring professional agents for top concern positions in their ?rms) and another type of institutional void is a lack of ?nancial credit availability in the country.
Cultural dimensions overwhelm collectivism (i.e. cohesion within ingroups/families) and power distance (i.e. inequalities in society). This country-level empirical study suggests that both national culture and institutional voids in?uence family ownership patterns around the world, and that institutional voids moderate the in?uence of national culture. National culture has a stronger in?uence when a country has institutional voids; however, the in?uence of national culture weakens when institutional voids are overcome. © 2008 Elsevier Inc. All rights reserved.
Article history: Received 18 December 2007 Received in revised form 29 February 2008 Accepted 24 June 2008 Available online 20 January 2009...If you want to bulge out a full essay, order it on our website: Orderessay
If you want to get a full essay, wisit our page: write my essay .
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.