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Family business survival and the role of boards

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journal contribution
posted on 06.01.2016, 15:10 by Nick Wilson, Mike Wright, Louise ScholesLouise Scholes
We explore the vexing question of whether family firms are more likely to survive than nonfamily firms, focusing on the role of board composition. Utilizing a unique data set of over 700,000 private family and nonfamily firms in the U.K. during 2007–2010, we find that family firms are significantly less likely to fail than nonfamily firms. We identify the board characteristics associated with survival/failure in all firms and determine that it is these characteristics that are important in explaining the lower failure probability of family firms. We conclude with an agenda for further research on boards and family firm survival.

History

School

  • Loughborough University London

Published in

Entrepreneurship Theory and Practice

Volume

37

Issue

6

Pages

1369 - 1389

Citation

WILSON, N., WRIGHT, M. and SCHOLES, L., 2013. Family business survival and the role of boards. Entrepreneurship Theory and Practice, 37 (6), pp. 1369 - 1389.

Publisher

John Wiley & Sons, Inc. © Baylor University

Version

AM (Accepted Manuscript)

Publisher statement

This work is made available according to the conditions of the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) licence. Full details of this licence are available at: https://creativecommons.org/licenses/by-nc-nd/4.0/

Publication date

2013

Notes

This is the peer reviewed version of the following article: WILSON, N., WRIGHT, M. and SCHOLES, L., 2013. Family business survival and the role of boards. Entrepreneurship Theory and Practice, 37 (6), pp. 1369 - 1389, which has been published in final form at http://dx.doi.org/10.1111/etap.12071. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving.

ISSN

1042-2587

Language

en

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