Commentary: The servant, the parasite, and the enigma: A tale of three ownership structures and their affiliate directors 1

Entrepreneurship: Theory and Practice

Volumn 32, Issue 6 SPEC. ISS., 2008, Pages 1027-1033

  Combs, James G ^a  

^a FLORIDA STATE UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 55249115355     PISSN: 10422587     EISSN: 15406520     Source Type: Journal    
DOI: 10.1111/j.1540-6520.2008.00270.x     Document Type: Note

References (25)

1. Anderson, R.C. & Reeb, D.M. (2003). Founding-family ownership and firm performance: Evidence from the S&P 500. The Journal of Finance, 58(3), 1301-1328.
2. Anderson, R.C. & Reeb, D.M. (2004). Board composition: Balancing family influence in S&P 500 firms. Administrative Science Quarterly, 49, 209-237.
3. Astrachan, J.H. & Shanker, M.C. (2003). Family businesses' contribution to the U.S. economy: A closer look. Family Business Review, 16(3), 211-219.
4. Berle, J.A.A. & Means, G.C. (1932). The modern corporation and private property. New York: Macmillan.
5. Chrisman, J.J., Chua, J.H., Kellermans, F.W., & Chang, E.P.C. (2007). Are family managers agents or stewards? An exploratory study in privately held family firms. Journal of Business Research, 60, 1030-1038.
6. Colli, A., Perez, P., & Rose, M. (2003). National determinants of family firm development? Family firms in Britain, Spain, and Italy in the nineteenth and twentieth centuries. Enterprise & Society, 4(1), 28-44.
7. Corbetta, G. & Salvato, C.A. (2004). The board of directors in family firms: One size fits all? Family Business Review, 17(2), 119-134.
8. Fama, E.F. & Jensen, M.C. (1983). The separation of ownership and control. Journal of Law and Economics, 26, 301-325.
9. Garrod, N. & Valentincic, A. (2004). The term structure of implicit discount rates in security valuation. Journal of Business Finance & Accounting, 32(7&8), 1237-1274.
10. Harvey, S.J. (1999). Owner as manager, extended horizons and the family firm. International Journal of the Economics of Business, 6, 41-55.
11. Hill, C.W.L. & Snell, S. (1988). External control, corporate strategy, and firm performance in research-intensive industries. Strategic Management Journal, 9, 577-590.
12. Jensen, M.C. & Meckling, W. (1976). Theory of the firm: Managerial behavior, agency costs, and ownership structure. The Journal of Financial Economics, 3, 305-360.
13. Johnson, J.L., Daily, C.M., & Ellstrand, A.E. (1996). Boards of directors: A review and research agenda. Journal of Management, 22, 409-438.
14. Jones, C.D., Makri, M., & Gomez-Mejia, L.R. (2008). Affiliate directors and perceived risk bearing in publically-traded, family-controlled firms: The case of diversification. Entrepreneurship Theory & Practice, 32(6), 1007-1026.
15. La Porta, R., Lopez-de-Silanes, F., & Shleifer, A. (1999). Corporate ownership around the world. The Journal of Finance, 54(2), 471-517.
16. Le Breton-Miller, I. & Miller, D. (2006). Why do some family businesses out-compete? Governance, long-term orientations, and sustainable capability. Entrepreneurship Theory & Practice, 30(6), 731-746.
17. Palich, L.E., Cardinal, L.B., & Miller, C.C. (2000). Curvilinearity in the diversification-performance linkage: An examination of over three decades of research. Strategic Management Journal, 21(2), 155-174.
18. Porter, M.E. (1987). From competitive advantage to corporate strategy. Harvard Business Review, 65(3), 43-60.
19. Sanders, W.G. (2001). Behavioral responses of CEOs to stock ownership and stock option pay. Academy of Management Journal, 44(3), 477-492.
20. Schulze, W.S., Lubatkin, M.H., Dino, R.N., & Buchholtz, A.K. (2001). Agency relationships in family firms: Theory and evidence. Organization Science, 12(2), 99-116.
21. Shleifer, A. & Vishny, R. (1997). A survey of corporate goverance. The Journal of Finance, 52, 737-783.
22. Tosi, H.L. & Gomez-Mejia, L.R. (1989). The decoupling of CEO pay and performance: An agency theory perspective. Administrative Science Quarterly, 34, 169-189.
23. Wade, J.B., O'Reilly, C.A.I., & Chandratat, I. (1990). Golden parachutes: CEOs and the exercise of social influences. Administrative Science Quarterly, 35, 587-603.
24. Walsh, J.P. & Seward, J.K. (1990). On the efficiency of internal and external corporate control mechanisms. Academy of Management Review, 15, 421-458.
25. Zellweger, T. (2007). Time horizon, costs of equity capital, and generic investment strategies of firms. Family Business Review, 20(1), 1-15.