The Performance of Family Firms During Crisis Periods: The Case of Greece
This paper examines the effect of the family involvement in the performance of Greek listed companies, during the Greek financial crisis. The involvement of family in firm’s ownership, management and governance along with the firm’s age constitute the unified framework that describe the family in...
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| Formato: | Artículo |
| Lenguaje: | inglés |
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2022
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| Acceso en línea: | https://dialnet.unirioja.es/servlet/oaiart?codigo=8493593 |
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| _version_ | 1879196211219529728 |
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| author | Kinias, Ioannis |
| author_browse | Kinias, Ioannis |
| author_facet | Kinias, Ioannis |
| author_sort | Kinias, Ioannis |
| building | Dialnet |
| collection | Acceso abierto |
| description | This paper examines the effect of the family involvement in the performance of Greek
listed companies, during the Greek financial crisis. The involvement of family in firm’s ownership,
management and governance along with the firm’s age constitute the unified framework that
describe the family influence on the enterprise. The main contribution of this paper is the investigation of a research period when Greece faced an unprecedented economic 9 year crisis that
affected all sectors of the economy, with 72% of listed companies showing a decrease in revenue
and the total capitalization of the Greek Stock Exchange shrinking by 70%. No previous study has
incorporated performance data on listed companies during a corresponding financial crisis with
large fluctuations in all performance indicators and a high volatility in the national economy. The
sample of the research includes 80 family firms listed in the Greek Stock Exchange. The findings
illustrate a better performance for family firms with lower family ownership and prove a stronger
performance in younger family businesses. The results of the study do not confirm the positive
involvement of family members, through management (CEO) and governance (BoD) positions in
the family business performance. |
| first_indexed | 2026-10-16T05:59:21Z |
| format | Article |
| fullrecord | <oai_dc:dc xmlns:oai_dc="http://www.openarchives.org/OAI/2.0/oai_dc/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.openarchives.org/OAI/2.0/oai_dc/ http://www.openarchives.org/OAI/2.0/oai_dc.xsd"><identifier>dialnet-ART0001537726</identifier><datestamp>2023-04-13</datestamp><dc:title>The Performance of Family Firms During Crisis Periods: The Case of Greece</dc:title><dc:creator>Kinias, Ioannis</dc:creator><dc:subject>Family business performance</dc:subject><dc:subject>Ownership</dc:subject><dc:subject>CEO</dc:subject><dc:subject>Board of directors</dc:subject><dc:subject>Financial crisis</dc:subject><dc:subject>CEO</dc:subject><dc:subject>Consejo de administración</dc:subject><dc:subject>Crisis financiera Desempeño de la empresa familiar</dc:subject><dc:subject>Propiedad</dc:subject><dc:description>This paper examines the effect of the family involvement in the performance of Greek
listed companies, during the Greek financial crisis. The involvement of family in firm’s ownership,
management and governance along with the firm’s age constitute the unified framework that
describe the family influence on the enterprise. The main contribution of this paper is the investigation of a research period when Greece faced an unprecedented economic 9 year crisis that
affected all sectors of the economy, with 72% of listed companies showing a decrease in revenue
and the total capitalization of the Greek Stock Exchange shrinking by 70%. No previous study has
incorporated performance data on listed companies during a corresponding financial crisis with
large fluctuations in all performance indicators and a high volatility in the national economy. The
sample of the research includes 80 family firms listed in the Greek Stock Exchange. The findings
illustrate a better performance for family firms with lower family ownership and prove a stronger
performance in younger family businesses. The results of the study do not confirm the positive
involvement of family members, through management (CEO) and governance (BoD) positions in
the family business performance.</dc:description><dc:description>Este trabajo examina el efecto de la implicación familiar en los resultados de las em-
presas griegas que cotizan en bolsa, durante la crisis financiera griega. La participación de la
familia en la propiedad, la gestión y el gobierno de la empresa, junto con la edad de la misma,
constituyen el marco unificado que describe la influencia de la familia en la empresa. La principal
contribución de este trabajo es la investigación de un periodo de investigación en el que Grecia
se enfrentó a una crisis económica sin precedentes de nueve años que afectó a todos los sectores
de la economía. Durante este período de crisis disminuyeron un 72% los ingresos de las empresas
griegas cotizadas y la capitalización total de la Bolsa griega se redujo en un 70%. Ningún estudio
anterior ha incorporado datos sobre el rendimiento de las empresas que cotizan en bolsa durante
una crisis financiera correspondiente con grandes fluctuaciones en todos los indicadores de rendimiento y una gran volatilidad en la economía nacional. La muestra de la investigación incluye 80
empresas familiares que cotizan en la Bolsa griega. Los resultados ilustran un mejor rendimiento
de las empresas familiares con menor propiedad familiar y demuestran un mayor rendimiento
en las empresas familiares más jóvenes. Los resultados del estudio no confirman la implicación
positiva de los miembros de la familia, a través de los puestos de dirección (CEO) y de gobierno
(BoD) en el rendimiento de la empresa familiar.</dc:description><dc:date>2022</dc:date><dc:type>text (article)</dc:type><dc:format>application/pdf</dc:format><dc:identifier>https://dialnet.unirioja.es/servlet/oaiart?codigo=8493593</dc:identifier><dc:identifier>(Revista) ISSN 2444-877X</dc:identifier><dc:source>European Journal of Family Business, ISSN 2444-877X, Vol. 12, Nº. 1, 2022, pags. 63-79</dc:source><dc:language>eng</dc:language><dc:rights>LICENCIA DE USO: Los documentos a texto completo incluidos en Dialnet son de acceso libre y propiedad de sus autores y/o editores. Por tanto, cualquier acto de reproducción, distribución, comunicación pública y/o transformación total o parcial requiere el consentimiento expreso y escrito de aquéllos. Cualquier enlace al texto completo de estos documentos deberá hacerse a través de la URL oficial de éstos en Dialnet. Más información: https://dialnet.unirioja.es/info/derechosOAI | INTELLECTUAL PROPERTY RIGHTS STATEMENT: Full text documents hosted by Dialnet are protected by copyright and/or related rights. This digital object is accessible without charge, but its use is subject to the licensing conditions set by its authors or editors. Unless expressly stated otherwise in the licensing conditions, you are free to linking, browsing, printing and making a copy for your own personal purposes. All other acts of reproduction and communication to the public are subject to the licensing conditions expressed by editors and authors and require consent from them. Any link to this document should be made using its official URL in Dialnet. More info: https://dialnet.unirioja.es/info/derechosOAI</dc:rights></oai_dc:dc> |
| id | dialnet-ART0001537726 |
| institution | Dialnet |
| language | eng |
| last_indexed | 2026-10-16T05:59:21Z |
| publishDate | 2022 |
| publishDateRange | 2022 |
| publishDateSort | 2022 |
| record_format | oai_dc |
| spelling | dialnet-ART00015377262023-04-13The Performance of Family Firms During Crisis Periods: The Case of GreeceKinias, IoannisFamily business performanceOwnershipCEOBoard of directorsFinancial crisisCEOConsejo de administraciónCrisis financiera Desempeño de la empresa familiarPropiedadThis paper examines the effect of the family involvement in the performance of Greek listed companies, during the Greek financial crisis. The involvement of family in firm’s ownership, management and governance along with the firm’s age constitute the unified framework that describe the family influence on the enterprise. The main contribution of this paper is the investigation of a research period when Greece faced an unprecedented economic 9 year crisis that affected all sectors of the economy, with 72% of listed companies showing a decrease in revenue and the total capitalization of the Greek Stock Exchange shrinking by 70%. No previous study has incorporated performance data on listed companies during a corresponding financial crisis with large fluctuations in all performance indicators and a high volatility in the national economy. The sample of the research includes 80 family firms listed in the Greek Stock Exchange. The findings illustrate a better performance for family firms with lower family ownership and prove a stronger performance in younger family businesses. The results of the study do not confirm the positive involvement of family members, through management (CEO) and governance (BoD) positions in the family business performance.Este trabajo examina el efecto de la implicación familiar en los resultados de las em- presas griegas que cotizan en bolsa, durante la crisis financiera griega. La participación de la familia en la propiedad, la gestión y el gobierno de la empresa, junto con la edad de la misma, constituyen el marco unificado que describe la influencia de la familia en la empresa. La principal contribución de este trabajo es la investigación de un periodo de investigación en el que Grecia se enfrentó a una crisis económica sin precedentes de nueve años que afectó a todos los sectores de la economía. Durante este período de crisis disminuyeron un 72% los ingresos de las empresas griegas cotizadas y la capitalización total de la Bolsa griega se redujo en un 70%. Ningún estudio anterior ha incorporado datos sobre el rendimiento de las empresas que cotizan en bolsa durante una crisis financiera correspondiente con grandes fluctuaciones en todos los indicadores de rendimiento y una gran volatilidad en la economía nacional. La muestra de la investigación incluye 80 empresas familiares que cotizan en la Bolsa griega. Los resultados ilustran un mejor rendimiento de las empresas familiares con menor propiedad familiar y demuestran un mayor rendimiento en las empresas familiares más jóvenes. Los resultados del estudio no confirman la implicación positiva de los miembros de la familia, a través de los puestos de dirección (CEO) y de gobierno (BoD) en el rendimiento de la empresa familiar.2022text (article)application/pdfhttps://dialnet.unirioja.es/servlet/oaiart?codigo=8493593(Revista) ISSN 2444-877XEuropean Journal of Family Business, ISSN 2444-877X, Vol. 12, Nº. 1, 2022, pags. 63-79engLICENCIA DE USO: Los documentos a texto completo incluidos en Dialnet son de acceso libre y propiedad de sus autores y/o editores. Por tanto, cualquier acto de reproducción, distribución, comunicación pública y/o transformación total o parcial requiere el consentimiento expreso y escrito de aquéllos. Cualquier enlace al texto completo de estos documentos deberá hacerse a través de la URL oficial de éstos en Dialnet. Más información: https://dialnet.unirioja.es/info/derechosOAI | INTELLECTUAL PROPERTY RIGHTS STATEMENT: Full text documents hosted by Dialnet are protected by copyright and/or related rights. This digital object is accessible without charge, but its use is subject to the licensing conditions set by its authors or editors. Unless expressly stated otherwise in the licensing conditions, you are free to linking, browsing, printing and making a copy for your own personal purposes. All other acts of reproduction and communication to the public are subject to the licensing conditions expressed by editors and authors and require consent from them. Any link to this document should be made using its official URL in Dialnet. More info: https://dialnet.unirioja.es/info/derechosOAI |
| spellingShingle | Family business performance Ownership CEO Board of directors Financial crisis CEO Consejo de administración Crisis financiera Desempeño de la empresa familiar Propiedad Kinias, Ioannis The Performance of Family Firms During Crisis Periods: The Case of Greece |
| title | The Performance of Family Firms During Crisis Periods: The Case of Greece |
| title_full | The Performance of Family Firms During Crisis Periods: The Case of Greece |
| title_fullStr | The Performance of Family Firms During Crisis Periods: The Case of Greece |
| title_full_unstemmed | The Performance of Family Firms During Crisis Periods: The Case of Greece |
| title_short | The Performance of Family Firms During Crisis Periods: The Case of Greece |
| title_sort | performance of family firms during crisis periods the case of greece |
| topic | Family business performance Ownership CEO Board of directors Financial crisis CEO Consejo de administración Crisis financiera Desempeño de la empresa familiar Propiedad |
| url | https://dialnet.unirioja.es/servlet/oaiart?codigo=8493593 |
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