Family ownership and Labour investment efficiency: Evidence from Korea
- Authors
- Mo, Kyoungwon; Lee, Kyung Yun (Kailey); Park, Seun-Young
- Issue Date
- Jul-2022
- Publisher
- ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
- Keywords
- Ownership structure; family firms; family ownership; investment efficiency; labour investment
- Citation
- APPLIED ECONOMICS LETTERS, v.29, no.12, pp 1073 - 1078
- Pages
- 6
- Journal Title
- APPLIED ECONOMICS LETTERS
- Volume
- 29
- Number
- 12
- Start Page
- 1073
- End Page
- 1078
- URI
- https://scholarworks.bwise.kr/cau/handle/2019.sw.cau/50696
- DOI
- 10.1080/13504851.2021.1908511
- ISSN
- 1350-4851
1466-4291
- Abstract
- This paper examines whether founding-family ownership affects firms' labour investment efficiency. By analysing public Korean companies from 2001 to 2018, we found that family firms are more efficient than non-family firms in regard to labour investment. The results show that family firms can achieve greater efficiency in labour investment by avoiding over-firing issues, thereby reducing underinvestment in employment problems. Additionally, we found that family firms make more efficient labour-related decisions with greater external financing. Overall, the results suggest that family firms' long-term perspective enables them to maintain optimal labour levels.
- Files in This Item
- There are no files associated with this item.
- Appears in
Collections - College of Business & Economics > School of Business Administration > 1. Journal Articles
![qrcode](https://api.qrserver.com/v1/create-qr-code/?size=55x55&data=https://scholarworks.bwise.kr/cau/handle/2019.sw.cau/50696)
Items in ScholarWorks are protected by copyright, with all rights reserved, unless otherwise indicated.