| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w16340 |
| 来源ID | Working Paper 16340 |
| Must Love Kill the Family Firm? | |
| Vikas Mehrotra; Randall Morck; Jungwook Shim; Yupana Wiwattanakantang | |
| 发表日期 | 2010-09-02 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | Family firms depend on a succession of capable heirs to stay afloat. If talent and IQ are inherited, this problem is mitigated. If, however, progeny talent and IQ display mean reversion (or worse), family firms are eventually doomed. This is the essence of the critique of family firms in Burkart, Panunzi and Shleifer (2003). Since family firms persist, solutions to this succession problem must exist. We submit that marriage can transfuse outside talent and reinvigorate family firms. This implies that changes to the institution of marriage - notably, a decline in arranged marriages in favor of marriages for "love" - bode ill for the survival of family firms. Consistent with this, the predominance of family firms correlates strongly across countries with plausible proxies for arranged marriage norms. Interestingly, family firm dominance interacted with arranged marriage norms also correlates with lower GDP per capita, suggesting that cultural inertia may also impede convergence to more efficient economic organization. |
| 主题 | Financial Economics ; Corporate Finance ; Labor Economics ; Demography and Aging ; Development and Growth ; Development ; Other ; Economic Systems ; Culture |
| URL | https://www.nber.org/papers/w16340 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/574015 |
| 推荐引用方式 GB/T 7714 | Vikas Mehrotra,Randall Morck,Jungwook Shim,et al. Must Love Kill the Family Firm?. 2010. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w16340.pdf（396KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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