The assessment of corporate governance in family and non-family businesses
Autor(a) principal: | |
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Data de Publicação: | 2022 |
Tipo de documento: | Dissertação |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10071/27433 |
Resumo: | The last financial crisis has brought global attention to a practice that has been studied over the past years and is called Corporate Governance. This phenomenon has become more relevant in the last decade with the ESG criteria, and it is expected to remain this way for a long period of time. It has changed the way companies are organized around the world and led to the success of many companies by helping them avoid agency costs. However, despite the number of studies in this area, there is still much to study about the impact of Corporate Governance on family businesses and how best practices help these companies overcome risks typical of their shareholder structure. This paper acknowledges and explores Corporate Governance’s most important dimensions in the financial performance of a company and then compare its impact between family and non-family businesses. The paper results show that Board Functioning and Board Composition have significant impact in financial performance. Moreover, family firms that have a succession plan for the board and an audit independent committee are more likely to have a better performance. Results also show that family businesses have a higher Return on Assets than non-family businesses. |
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The assessment of corporate governance in family and non-family businessesCorporate governanceEmpresa familiar -- Family businessMeasures of financial performanceGoverno societárioMedidas de desempenho financeiroThe last financial crisis has brought global attention to a practice that has been studied over the past years and is called Corporate Governance. This phenomenon has become more relevant in the last decade with the ESG criteria, and it is expected to remain this way for a long period of time. It has changed the way companies are organized around the world and led to the success of many companies by helping them avoid agency costs. However, despite the number of studies in this area, there is still much to study about the impact of Corporate Governance on family businesses and how best practices help these companies overcome risks typical of their shareholder structure. This paper acknowledges and explores Corporate Governance’s most important dimensions in the financial performance of a company and then compare its impact between family and non-family businesses. The paper results show that Board Functioning and Board Composition have significant impact in financial performance. Moreover, family firms that have a succession plan for the board and an audit independent committee are more likely to have a better performance. Results also show that family businesses have a higher Return on Assets than non-family businesses.A última crise financeira chamou a atenção mundial para uma prática que tem sido estudada ao longo dos últimos anos e que se chama Governo Societário. Este fenómeno tornou-se mais relevante na última década com os critérios ESG e espera-se que se mantenha desta forma durante um longo período de tempo. Mudou a forma como as empresas estão organizadas em todo o mundo e conduziu ao sucesso de muitas empresas, ajudando-as a evitar custos de agência. Contudo, apesar do número de estudos nesta área, há ainda muito a analisar sobre o impacto do Governo Societário nas empresas familiares e na forma como as boas práticas ajudam a ultrapassar os riscos característicos da sua estrutura acionista. Esta tese irá reconhecer e explorar as dimensões do Governo das Sociedades mais importantes no desempenho financeiro de uma empresa e depois comparar o impacto entre empresas familiares e não familiares. Os resultados da dissertação mostram que o funcionamento e a composição do Conselho de Administração têm um impacto significativo no desempenho financeiro. Além disso, as empresas familiares que têm um plano de sucessão para o conselho de administração e uma comissão independente de auditoria têm maior probabilidade de ter um melhor desempenho. Os resultados também mostram que as empresas familiares têm um maior retorno sobre o património do que as empresas não familiares.2023-01-25T09:44:53Z2022-12-12T00:00:00Z2022-12-122022-10info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10071/27433TID:203162420engSoares, Gonçalo Miguel Martinsinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-11-09T17:44:35Zoai:repositorio.iscte-iul.pt:10071/27433Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T22:21:10.894152Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
The assessment of corporate governance in family and non-family businesses |
title |
The assessment of corporate governance in family and non-family businesses |
spellingShingle |
The assessment of corporate governance in family and non-family businesses Soares, Gonçalo Miguel Martins Corporate governance Empresa familiar -- Family business Measures of financial performance Governo societário Medidas de desempenho financeiro |
title_short |
The assessment of corporate governance in family and non-family businesses |
title_full |
The assessment of corporate governance in family and non-family businesses |
title_fullStr |
The assessment of corporate governance in family and non-family businesses |
title_full_unstemmed |
The assessment of corporate governance in family and non-family businesses |
title_sort |
The assessment of corporate governance in family and non-family businesses |
author |
Soares, Gonçalo Miguel Martins |
author_facet |
Soares, Gonçalo Miguel Martins |
author_role |
author |
dc.contributor.author.fl_str_mv |
Soares, Gonçalo Miguel Martins |
dc.subject.por.fl_str_mv |
Corporate governance Empresa familiar -- Family business Measures of financial performance Governo societário Medidas de desempenho financeiro |
topic |
Corporate governance Empresa familiar -- Family business Measures of financial performance Governo societário Medidas de desempenho financeiro |
description |
The last financial crisis has brought global attention to a practice that has been studied over the past years and is called Corporate Governance. This phenomenon has become more relevant in the last decade with the ESG criteria, and it is expected to remain this way for a long period of time. It has changed the way companies are organized around the world and led to the success of many companies by helping them avoid agency costs. However, despite the number of studies in this area, there is still much to study about the impact of Corporate Governance on family businesses and how best practices help these companies overcome risks typical of their shareholder structure. This paper acknowledges and explores Corporate Governance’s most important dimensions in the financial performance of a company and then compare its impact between family and non-family businesses. The paper results show that Board Functioning and Board Composition have significant impact in financial performance. Moreover, family firms that have a succession plan for the board and an audit independent committee are more likely to have a better performance. Results also show that family businesses have a higher Return on Assets than non-family businesses. |
publishDate |
2022 |
dc.date.none.fl_str_mv |
2022-12-12T00:00:00Z 2022-12-12 2022-10 2023-01-25T09:44:53Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
format |
masterThesis |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10071/27433 TID:203162420 |
url |
http://hdl.handle.net/10071/27433 |
identifier_str_mv |
TID:203162420 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
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info:eu-repo/semantics/openAccess |
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openAccess |
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application/pdf |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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