دانلود رایگان مقاله انگلیسی کارآمدی رهبران زن در شرکت های خانوادگی و غیر خانوادگی - نشریه امرالد

Abstract

Purpose – The aim of this study is to investigate whether female leaders are more efficient in family firms than in non-family firms. Design/methodology/approach – This paper uses a unique database of ownership and leadership in private Swedish firms that makes it possible to analyze differences in firm performance due to female leadership in family and non-family firms. The analysis is based on survey data merged with micro-level data on Swedish firms. Only firms with five or more employees are included in the analysis. The sample contains more than 1,000 firms. Findings – The descriptive statistics show that there are many more male than female corporate leaders. However, the regression analysis indicates that female leadership has a much more positive impact on the performance of family firms than on that for non-family firms, where the effect is ambiguous. Originality/value – Comparative studies examining the impact of female leadership on firm-level performance in family and non-family firms are rare, and those that exist are most often either qualitative or focused on large, listed firms. By investigating the role of female directors in family and non-family firms, the study adds to the literature on management, corporate governance and family firms.

5. Concluding discussion

In this study, a randomly drawn sample that represents all Swedish corporations is used as a database. Hence, the overwhelming majority of firms are non-listed. The study is unique in making a distinction between family and non-family firms in analyzing the efficiency of female leadership. This distinction is motivated by the presumption that the conditions for female leadership differ between these two types of firms. In leadership, we include both ownership and control. Stronger leadership potential is obtained if there is no separation between ownership and control. By efficiency, we mean performance in the form of profitability. Ideally, we would have liked a performance measure that discounted expected future profitability. Such measures include Tobin’s Q, as used by Terjesen et al. (2016), and marginal Q, as presented by Bjuggren (2016). However, because of the nature of our sample, i.e. the inclusion of private non-listed firms, no company stock data could be obtained; hence, no marketbased performance measures like these two could be used. Instead, an accountingbased measure of firm performance (the net profit margin) was used in the econometric analysis.