Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/25265 
Year of Publication: 
2008
Series/Report no.: 
SFB 649 Discussion Paper No. 2008,023
Publisher: 
Humboldt University of Berlin, Collaborative Research Center 649 - Economic Risk, Berlin
Abstract: 
Little is known about the relationship between family firms and their employees. This paper aims to close this gap. We distinguish between family management and family ownership as two dimensions of family firms and analyze their respective influence on downsizing. Our findings show that family management decreases the likelihood of downsizing, whereas the extent of family ownership decreases the likelihood of downsizing only with regard to deep job cuts (above 6%). We conclude that family managers have a strong long-term perspective, which is in line with both agency and stewardship theory. Yet, the idea that reputation concerns lead family owners to shy away from downsizing is only partially supported.
Subjects: 
Family firms
family management
family ownership
job cuts
downsizing
layoffs
JEL: 
G34
L21
M12
M13
M14
M51
Document Type: 
Working Paper

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