KTH/CESIS Working Paper Series in Economics and Institutions of Innovation
Swedish Listed Family Firms and Entrepreneurial Spirit
() and Johanna Palmberg
Abstract: This paper investigates the entrepreneurial spirit in
Swedish listed family firms. We associate family firms with
entrepreneurship in the sense that there is an identifiable person that
takes the uninsurable risk in the sense of Knight. This paper analysis two
questions: Do entrepreneurial family firms have a higher rate of growth and
do they invest in a more profit maximizing fashion than other listed firms?
The analysis shows that entrepreneurial family firms in general are smaller
in terms of market value and investments than non-family firms. Moreover,
the entrepreneurial family firms are the ones that makes the most efficient
Keywords: Entrepreneurship; Corporate Governance; Family Firms; Investments; Firm Performance; (follow links to similar papers)
JEL-Codes: C23; G30; L25; L26; (follow links to similar papers)
36 pages, October 13, 2008
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