The Uniqueness of Family Firms

  • Harijono Harijono Satya Wacana Christian University
DOI: https://doi.org/10.31937/manajemen.v2i1.168

Abstract

This study focuses on family business theory from two theories of the firm perspectives: the incomplete contract and the agency perspectives. It shows that families represent a special class of large shareholders that potentially have a unique incentive structure and power in the firm. The unique characteristics of family firms potentially make their performance and their corporate decisions making different from those of non-family firms. The empirical evidences tend to support this argument. However, further quantitative and qualitative research to establish the relations between family control and several aspects of corporate decision making in different institutional and cultural settings remains to be done.

Keywords: Agency, Control, Cultural, Family Business, Investment, Shareholders

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Published
2010-06-01
How to Cite
Harijono, H. (2010). The Uniqueness of Family Firms. Ultima Management : Jurnal Ilmu Manajemen, 2(1), 36-56. https://doi.org/https://doi.org/10.31937/manajemen.v2i1.168
Issue
Vol 2 No 1 (2010): ULTIMA MANAGEMENT
Section
Articles
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