Time/时间：5月20日 10:00am – 11:30am
Topic/题目： More Families are Better? Multifamily Firms and Their Effects on Company Governance, Innovation, and Performance
Speaker/报告人： So-Yeon Lim
Online Conference ID/腾讯会议号：221-100-617
Abstract/摘要：While prior family firm research typically assumes there is a single founding family, a surprisingly high number of family firms are multifamily firms (38% in our sample). This distinction is important as it helps explain the contradictory findings surrounding family firms in prior research. We argue that multifamily firms, compared to single family firms, have benefits in terms of corporate governance (less principal agent and principal-principal problems), manifested in less founder CEO entrenchment, lower probability of descendent leadership, and mutual monitoring between founding families. Furthermore, we argue that multifamily firms exhibit higher levels of firm innovation and firm performance. Based on U.S. firms during 2001- 2010, we find robust support for our arguments when accounting for endogeneity by utilizing propensity score matching and instrumental variables regression.
About the Speaker/报告人简介： Dr. So-Yeon Lim has been serving as an Assistant Professor in Finance at the Institute for Financial and Accounting Studies in XMU since 2018. She obtained her doctoral degree in Finance from Nanyant Techological University in 2018 and became an Assistant Professor of XMU in 2018. Her teaching and research interests mainly focus on Corporate Finance. Her academic papers appear in such conferences as Asian Finance Association Annual Conference, Australasian Finance and Banking Conference, American Finance Association Annual Conference, Financial Management Association Annual Conference, European Financial Management Association Annual Conference, Conference on Asia-Pacific Financial Market and Strategic Management Society Annual Conference. Dr. So-Yeon Lim has undertaken numerous other projects.