000079315 001__ 79315
000079315 005__ 20191105115758.0
000079315 0247_ $$2doi$$a10.1016/j.iedeen.2016.04.001
000079315 0248_ $$2sideral$$a97490
000079315 037__ $$aART-2017-97490
000079315 041__ $$aeng
000079315 100__ $$0(orcid)0000-0002-4389-2622$$aHernández-Trasobares, Alejandro$$uUniversidad de Zaragoza
000079315 245__ $$aDiversification and family control as determinants of performance: A study of listed business groups
000079315 260__ $$c2017
000079315 5060_ $$aAccess copy available to the general public$$fUnrestricted
000079315 5203_ $$aThe study analyses the individual and joint impact of family control and diversification on the performance of major Spanish corporations, considering the nature of the ultimate owner of non-family groups. The study uses a sample of ninety-nine Spanish corporations, each comprising a parent company listed on the stock exchange and a set of subsidiaries. Heckman''s two-step correction is used to eliminate selection bias and the endogeneity of family ownership. Different models are contemplated in which we analyse the impact of both diversification and the family nature of a business on performance, established as Tobin''s q-value. The results show how family control has a negative impact on Tobin''s q-value, and that differences are greater between family groups and non-family groups controlled by banks and/or foreign agents. They also show how diversification does not affect the creation of value either individually or considering the possible moderating effect of family ownership.
000079315 536__ $$9info:eu-repo/grantAgreement/ES/MINECO/ECO2013-48496-C4-3-R$$9info:eu-repo/grantAgreement/ES/DGA/CREVALOR
000079315 540__ $$9info:eu-repo/semantics/openAccess$$aby-nc-nd$$uhttp://creativecommons.org/licenses/by-nc-nd/3.0/es/
000079315 592__ $$a0.154$$b2017
000079315 593__ $$aBusiness and International Management$$c2017$$dQ3
000079315 593__ $$aMarketing$$c2017$$dQ4
000079315 593__ $$aStrategy and Management$$c2017$$dQ4
000079315 593__ $$aEconomics and Econometrics$$c2017$$dQ4
000079315 655_4 $$ainfo:eu-repo/semantics/article$$vinfo:eu-repo/semantics/acceptedVersion
000079315 700__ $$0(orcid)0000-0003-2579-222X$$aGalve-Górriz, Carmen$$uUniversidad de Zaragoza
000079315 7102_ $$14012$$2650$$aUniversidad de Zaragoza$$bDpto. Direcc.Organiza.Empresas$$cÁrea Organización de Empresas
000079315 773__ $$g23, 1 (2017), 46-54$$pEur. res. manag. bus. econ.$$tEuropean research on management and business economics.$$x2444-8834
000079315 8564_ $$s430317$$uhttps://zaguan.unizar.es/record/79315/files/texto_completo.pdf$$yPostprint
000079315 8564_ $$s46566$$uhttps://zaguan.unizar.es/record/79315/files/texto_completo.jpg?subformat=icon$$xicon$$yPostprint
000079315 909CO $$ooai:zaguan.unizar.es:79315$$particulos$$pdriver
000079315 951__ $$a2019-11-05-11:49:46
000079315 980__ $$aARTICLE