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- catalog abstract "This study explores how power relationships between large-block family owners and professional managers affect resource allocation decisions and performance in public corporations. Early-generation family shareholders with large ownership stakes are hypothesized to "control" public corporations using formal authority, social influence and expertise, resulting in superior resource allocation decisions and performance. These ideas are tested in a study of the U.S. textile industry from 1983-1992, a mature industry characterized by "transparent" economic conditions and strong social relationships between owners and managers, observed during a highly turbulent time period. Pooled, cross-sectional time series models indicate that controlling for ownership concentration, early-generation family owners are associated with superior resource allocation decisions and performance relative to industry competitors. These results are supported by field research interviews that suggest large-block family shareholders informally communicate with managers regarding important resource allocation decisions, and that families actively manage governance issues within family ownership blocks. Therefore, this study suggests that early-generation family owners have a disproportionately large amount of influence that is used in ways associated with appropriate resource allocation decisions and enhanced corporate performance.".
- catalog contributor b10981283.
- catalog contributor b10981284.
- catalog created "c1998.".
- catalog date "1998".
- catalog date "c1998.".
- catalog dateCopyrighted "c1998.".
- catalog description "Includes bibliographical references (p. 42-48).".
- catalog description "This study explores how power relationships between large-block family owners and professional managers affect resource allocation decisions and performance in public corporations. Early-generation family shareholders with large ownership stakes are hypothesized to "control" public corporations using formal authority, social influence and expertise, resulting in superior resource allocation decisions and performance. These ideas are tested in a study of the U.S. textile industry from 1983-1992, a mature industry characterized by "transparent" economic conditions and strong social relationships between owners and managers, observed during a highly turbulent time period. Pooled, cross-sectional time series models indicate that controlling for ownership concentration, early-generation family owners are associated with superior resource allocation decisions and performance relative to industry competitors. These results are supported by field research interviews that suggest large-block family shareholders informally communicate with managers regarding important resource allocation decisions, and that families actively manage governance issues within family ownership blocks. Therefore, this study suggests that early-generation family owners have a disproportionately large amount of influence that is used in ways associated with appropriate resource allocation decisions and enhanced corporate performance.".
- catalog extent "57 p. :".
- catalog isPartOf "Working paper (Harvard University. Graduate School of Business Administration. Division of Research) ; 99-029.".
- catalog isPartOf "Working paper / Division of Research, Harvard Business School ; #99-029".
- catalog issued "1998".
- catalog issued "c1998.".
- catalog language "eng".
- catalog publisher "[Boston] : Division of Research, Harvard Business School,".
- catalog title "The "Buddenbrooks effect" : the generational effects of family ownership on resource allocation decisions and performance in public corporations / David L. Kang.".
- catalog type "text".