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Author: Elie Hajj Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
This research analyzes the effect of family sources of power on the corporate financial performance of Lebanese firms. Our sample was mainly involving small to medium unlisted Lebanese firms from across different sectors. We have used the multiple regression equation in order to create a relationship between family sources of power and Lebanese firm's financial performance. We have also analyzed how the family financial performance is negatively affected by a higher family ownership but on the other hand it improves the firm's growth rate and the same thing applies when considering family influence performed by the board of directors and financial performance. Furthermore, we found that with later generation ruling, the higher is the financial performance; however, this financial performance improvement comes along with a slow assets growth. With higher number of family members' shareholders, we will find an improvement in the firm financial performance and a downturn when talking about assets ' growth. To conclude, we can say that the majority of Lebanese family firms are dramatically influenced by family sources of power.
Author: Elie Hajj Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
This research analyzes the effect of family sources of power on the corporate financial performance of Lebanese firms. Our sample was mainly involving small to medium unlisted Lebanese firms from across different sectors. We have used the multiple regression equation in order to create a relationship between family sources of power and Lebanese firm's financial performance. We have also analyzed how the family financial performance is negatively affected by a higher family ownership but on the other hand it improves the firm's growth rate and the same thing applies when considering family influence performed by the board of directors and financial performance. Furthermore, we found that with later generation ruling, the higher is the financial performance; however, this financial performance improvement comes along with a slow assets growth. With higher number of family members' shareholders, we will find an improvement in the firm financial performance and a downturn when talking about assets ' growth. To conclude, we can say that the majority of Lebanese family firms are dramatically influenced by family sources of power.
Author: Reina Hawat Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
The prevalence of the family type of firms has pushed researchers to be interested in various issues affecting the family business. Although a big number of researches dealing with family businesses and addressing a variety of related issues are available, very few studies address the issue of the impact of family influence on the strategic choices and performance of family firms. As a result, the main objective of this paper is to study the role and impact of family influence on the strategic choices and performance of family firms in Lebanon. This study seeks therefore to answer the following questions: Does family influence affect business strategy in family firms? For family firms, which relationship exists between the performance effect of strategic fit and family influence? This paper's results show that the family influence does have an impact on the strategy of the family business. Additionally, for family firms, the performance effect of strategic fit is positively moderated by family influence.
Author: Clara el Batal Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
This thesis investigates the existing relationship between family involvement in ownership, direction, business management and the enterprise's financial performance. Whether family managers and directors or non-family managers and outside directors approaches have better influence on the company's financial performance, is also investigated. The relation between conservative, entrenchment management and financial performance is reviewed as well. Lastly, whether family involvements by heirs for longevity goals and business succession have a positive influence on financial performance is also reviewed. The analysis of the family involvement implications on the firm's profitability is based on a quantitative study with a sample of 69 Lebanese companies. Based on the gathered data, the comparison of financial performance and the involvement of family and non-family managers, we concluded that family involvement is negatively correlated to the company's profitability. The more the family is involved in management and in direction, the less the financial performance is realized. Furthermore, the results show a negative association between conservative management, entrenchment and financial performance. Lastly, according to longevity goals and business succession with family involvement by heirs, the result didn't show a significant relationship with financial performance. These results were authenticating through the culture and the qualification of Lebanese family owners and managers. This research study indicates that, non-family managers and family owners act as stewards by caring about maximizing the family business value for all shareholders and by considering the success of the company as their own, instead of acting as agents by prioritizing the family members' utility and personal goals.
Author: Ana Paula Matias Gama Publisher: Springer Nature ISBN: 9813348461 Category : Business & Economics Languages : en Pages : 126
Book Description
This book examines the relationship between family influence and financial performance and non-economic goals in small and medium family-owned enterprises (SME) in Portugal. Research on the performance of family-owned firms is growing but results are mixed, especially for non-listed companies. This book examines smaller family-owned firms that operate in a small, open economy, characterised by a context of relatively weak capital markets and predominantly bank-based financing. Delving into the impact of key variables such as the power dimension, experience and culture on performance establishes, the book goes on to analyse the determinants of performance in such family-owned SMEs. Given the importance of family firms to open economies, this book would be a valuable read to scholars aiming to understand the reasons behind their success, managers seeking out strategic and operational guidance and to regulators and policymakers at the regional and national levels.
Author: Georges Samara Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
The aim of this thesis is to better understand how family involvement in ownership management and direction affects the financial performance of the Lebanese companies. In that aim we elaborated four hypotheses. The first hypothesis indicated that family involvement in ownership and management is positively correlated with financial performance. The second suggested that entrenchment and asymmetric altruism will lead to negative correlation with the financial performance. The third proposed that involvement by ownership and management by heirs is negatively correlated to financial performance. Finally, the fourth hypothesis suggested that the presence of outside directors in firms governed by later generations is positively correlated with financial performance. In order to authenticate our hypotheses we collected primary data by using a quantitative method. In fact, we performed an inquiry by surveying 75 Lebanese companies through a questionnaire formed by closed and semi-open questions and modulators. While finishing the empirical study, we concluded that family involvement in ownership and management has a positive relationship with the financial performance of the Lebanese company. Moreover, issues like entrenchment and asymmetric altruism, in addition to involvement by heirs, did not prove to have a significant relationship with the financial performance. Plus, the presence of outside directors in firms governed by heirs, did not have significant relationship with the financial performance. The essential reason to the results previously stated is that family managers in Lebanon act as stewards by considering the success of the company as their own, rather than agents seeking to achieve their personal benefit on the expense of the company.
Author: Joyce Hazim Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
Many experts and researchers have studied the differences in management style between the genders as well as their impact on the Family Business performance and found out that they are numerous. The present study conducts a test of some of the available statements and previous researches' results concerning this topic on the Lebanese family business and its financial performance. The results confirm that it the sales average turnover for male owners were higher than for females as well as the reality affirm that gender managed resources differently for instance the masculine approach is based on leveraging rather than sacrificing resources as for the feminine approach rely on personal. The hypothesis that females have a tendency to take smaller loans than males which allow us to conclude that females are apt to be more risk averse than males. On the other hand, it turned out that the hypothesis that maleowned businesses generally over perform those controlled by females by terms of measures in financial perfomance such as earnings was not applicable for the Lebanese case.
Author: Christelle Abou Fayad Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
The aim of this thesis is to test the relation between the Entrepreneurial orientation of a firm's top manager and the financial performance of the Lebanese companies and how the managerial power can moderate this relationship. In that aim we elaborated four hypotheses. The first hypothesis indicated that Entrepreneurial orientation is positively correlated with financial performance. The second suggested that the educational power moderates positively the impact level of EO on firm performance. The third proposed that Structural power moderates negatively the level of EO impact on firm performance. And the fourth hypothesis stated that the Expert power moderates positively the level of EO impact on firm performance. In order to authenticate our hypothesis, we collected primary data by using quantitative method. Therefore, we completed an inquiry by surveying seventy Lebanese companies through a questionnaire formed by closed semi closed and unipolar questions. The results of the empirical study led us to conclude that by looking at EO as a uni-dimensional construct no relation were significant between the EO and financial performance but when looking at it as a multidimensional construct a very low significance appear at the level of innovativeness and proactivness and firm performance. As for the moderating effect of managerial power the results did not prove a clear improvement when testing each type of power. The fundamental reason to the results stated is that the Lebanese companies are highly family oriented.
Author: World Bank Publisher: World Bank Publications ISBN: 1464814414 Category : Business & Economics Languages : en Pages : 241
Book Description
Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
Book Description
Leading international scholars provide a timely reconsideration of how and why entrepreneurship matters for economic development, particularly in emerging and developing economies. The book critically dissects the evolving relationship between entrepreneurs and the state.
Author: Elie Hajj
Author: Elie Hajj
Author: Reina Hawat
Author: Clara el Batal
Author: Ana Paula Matias Gama
Author: Georges Samara
Author: Joyce Hazim
Author: Christelle Abou Fayad
Author: Groupe HEC (Jouy-en-Josas, Yvelines). Direction de la recherche
Author: World Bank
Author: Wim Naudé