• 한국산학기술학회논문지
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• 제16권8호
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• pp.5522-5533
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• 2015

본 연구는 중소기업 CEO의 리더십 유형(변혁적 리더십, 거래적 리더십, 서번트 리더십)이 종업원의 조직유효성(조직몰입, 조직시민행동)에 미치는 영향을 알아보기 위해 국내 중소기업 전기, 전자, IT업체 종사자를 대상(573명)으로 설문조사를 실시하였고, 이를 바탕으로 통계분석을 실시하였다. 분석결과, 변혁적 리더십의 카리스마, 개별적 배려, 서번트 리더십의 감정적 치유, 지혜, 청지기 정신은 조직몰입에 정(+)의 영향을 미치는 것으로 나타났다. 그리고 변혁적 리더십의 카리스마, 거래적 리더십의 예외적 관리, 서번트 리더십의 지혜, 청지기 정신은 조직시민행동에 정(+)의 여향을 미치는 것으로 나타났다. 이와 같은 분석결과를 바탕으로 CEO는 종업원의 조직몰입과 조직시민행동 향상을 위해 적절한 의사소통과 애로사항, 문제 등에 필요한 요구사항들을 적극 검토하고, 이를 CEO 리더십 역량 강화에 포함하여 시행해야 한다. 또한 종업원이 자신과 함께 일하고 있다는 자긍심을 가질 수 있도록 가치관이나 신념 등을 강조하고, 장래 비전을 제시해 주며, 최종적으로 CEO와 종업원이 같은 공동목표를 갖는 공동체라는 것을 인식시켜 줄 필요성을 시사한다.

• 아태비즈니스연구
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• 제12권1호
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• pp.25-39
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• 2021

Purpose - This study aims to examine whether family firm governance is related to long-term corporate survival. To find out whether and why family firms have higher chances of long-term survival compared to non family firms, this study analyzes the relationship between some governance characteristics that are prevalent in family firms and corporate long-term viability. Design/methodology/approach - This study utilizes a sample of 285 family firms listed on the Korea Stock Exchange (KSE) to probe the influence of governance characteristics on corporate survival. This study conducts Cox proportional hazard regression analysis to estimate the influences on the survival duration. Findings - The results indicate that firms with particular governance characteristics show higher long-term survivability. Specifically, the probability of firm's long-term survival is increased when the CEO is the largest shareholder, which may be related to CEO's stewardship attitudes. Research implications or Originality - This study has significance in that it examines the direct causal variables that enhance long-term corporate viability through a large scale empirical examination. Also, the study findings provide some clues as to why certain family firms outlive non-family firms.

• 유통과학연구
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• 제20권12호
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• pp.13-22
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• 2022

Purpose: The paper contributes to the existing literature on Vietnamese corporate governance and firm performance with a focus on listed family firms and the use of a more suitable econometric framework to analyze firm performance. The study investigates how family firm performance is affected by corporate governance under the standpoint of stewardship theory in Vietnam. Research design, data and methodology: With the use of different measures for firm performance (Tobin's Q, ROA, and ROE), regression models were estimated using Generalized Least Square (GLS) method on a panel data of a total of 113 listed companies during the five-year period from 2015 to 2019. Results: We found that family ownership as the main characteristic of the stewardship theory affects family firms positively. In addition, several other characteristics in corporate governance as board composition (board independence, board audits, and board committees), CEO (age and tenure) and firm characteristics (size, age, expansion, and annual sales) showed significant impacts on firm performance. Our findings also suggest that family firm performance can be either positively or negatively affected based on the characteristics of corporate governance. The findings can help companies evaluate the significance of corporate governance through deciding board structure and the selection of CEOs to match family firm characteristics. It also gives insights for investors, rating agencies, and policymakers for relevant purposes.

• The Journal of Asian Finance, Economics and Business
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• 제9권5호
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• pp.63-73
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• 2022

In today's financial economics literature, the impact of innovative family ownership and management on firm performance is a prominent concern. In this study, the existence of family firms in the listed sector of Pakistan's economy is investigated. The objective of this study is to examine the performance-oriented relationship of family ownership and active involvement of family member at the CEO position. The theoretical perspectives that underpin this research are agency and stewardship. This analysis used a sample of 315 publicly traded companies from 2009 to 2019. The study's primary independent variables include family influence on ownership and family CEO. Financial performance is the dependent variable that is divided into accounting and market measures. The proxy for accounting measure is return on asset and proxy for market measure is Tobin's Q. This study employs univariate and balanced panel data analysis. For robustness of the analysis random-effects GLS regression is carried out. The empirical results show that that Family Firms outperform Non-Family Firms both in terms of accounting and market measures. In the later part family CEOs firms outperform the firms that have either insider or outsider non-family CEOs. This superior performance is subjected to the positive and statistically significant association between family ownership, management, and financial performance.