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博碩士論文 etd-0608123-101550 詳細資訊
Title page for etd-0608123-101550
一團和氣還是烏煙瘴氣? 探究台灣上市櫃家族企業家族控制與財務績效的關聯: 以董事會親屬關係為干擾變數
A harmony or a chaos? Relationship between family control and financial performance by using kinship ties in public Taiwanese family enterprises as moderators
Year, semester
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Advisory Committee
Date of Exam
Date of Submission
socioemotional wealth, kinship ties, family board, firm performance, family identity
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From the perspective of socioemotional wealth theory, it is found that kinship ties in family board can positively reinforce positive effects brought by family control. However, from the perspective of conflicts, the board can be turned into chaos when moderated by kinship ties such as transgenerational ties, sibling ties and in-law ties with effect of negative effects, decreased but positive effects and increased but positive effects, respectively. This study closes the gap by using hand-collecting data of family identity of board members in 499 Taiwanese public family firms. Results from hierarchical analysis reveal critical information. Transgenerational ties indeed significantly turn positive effects from family control to financial performance represented by ROA into negative relationship, while negative and positive effects by sibling ties and in-law ties are unsupportive accordingly. Future research is suggested that panel data from multiple years and in-depth interviews on the board members can be interactively applied from the aspect of SEW in “E” to investigate relevance among kinship ties, family members’ emotional attachments and firm performance.
目次 Table of Contents
論文審定書 i
誌謝 ii
中文摘要 iii
Abstract iv
List of figures viii
List of tables ix
Chapter 1 Introduction 1
1.1 Definitions and features of family-owned firms and SEW theory 1
1.2 Overlapping domains and multiple roles of family members 2
1.3 Responds to former research questions: heterogeneity, family governance and SEW preservation. 3
Chapter 2 Theoretical background and hypotheses 6
2.1.1 Family firms (FF) as one of popular business management types 6
2.1.2 Socioemotional wealth (SEW) theory and preservation 6
2.1.3 Tripartite perspectives in former ownership-performance research 8
2.1.4 SEW perspective: Impacts from family ownership on firm performance 10
2.2.1 Kinship ties and SEW preservation in FFs 11
2.2.2 Family board: a vital context for kinship ties 12
2.2.3 Importance brought by transgenerational interactions for succession 14
2.2.4 Negative results by transgenerational tie: conflicts, opportunism, over confidence 16
2.2.5 When invisible blood relationship becomes visible 19
2.3.1 Sibling partnership and dispersed ownership 20
2.3.2 Unbalanced heritage results in rivalries 20
2.3.3 When a family board turns into a chaos 21
2.3.4 SEW theory: unstable emotional attachments 22
2.4.1 Social connections brought by in-law directors 23
2.4.2 Mingled in-law relationships in Taiwanese business families 25
2.4.3 Marriage as a result of similarities and differences 26
2.4.4 Negative impacts by in-law directorship tie 28
2.4.5 Positive impacts by in-law directorship tie 29
2.4.6 SEW theory perspective: social ties and identifications 30
Chapter 3 Methodology 32
3.1 Data collection 32
3.2 Sample 32
3.3 Independent variables 34
3.4 Dependent variables 35
3.5 Controls variables: 35
3.6 Moderators 36
3.7 Software 37
Chapter 4 Results 38
Chapter 5 Discussions and Conclusions 48
5.1 Discussions 48
5.2 Conclusions 50
5.3 Contributions and respond to former research 51
5.4 Limitations 52
5.5 Implications for future studies 52
5.6 Practical implications for companies 53
References 54
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