Founder effectiveness in sustaining financial performance: influence of family ownership
by Norazlin Ahmad; Irene Wei Kiong Ting; Hanh Thi My Le
J. for International Business and Entrepreneurship Development (JIBED), Vol. 12, No. 2/3, 2020

Abstract: This paper aims to investigate the association between the founder-CEO and the level of firm financial sustainability in the presence of family ownership by using a unique dataset of publicly listed construction firms in Malaysia from 2009 to 2017. Our regression results show that the founder-CEO and family ownership significantly and negatively affect financial sustainability, which is proxied by operational self-sufficiency. However, their negative effects are alleviated when the founder-CEO and family ownership interact. These results show that the founder-CEO may be ineffective in sustaining the financial performance in the construction industry. This study calls for greater examinations of founder effectiveness under the influence of family ownership.

Online publication date: Wed, 01-Apr-2020

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