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AN INTERNATIONAL STUDY OF THE IMPACT OF CULTURAL FACTORS ON THE PREVALENCE OF FAMILY-OWNED FIRMS
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Amir Shoham 
, Varda Yaari
Abstract
A key question in international corporate governance is why certain in ownership types are prevalent in different countries around the world (La Prota et al., 1999). In this study, we provide an answer for the prevalence of the family-owned firms in 42 countries by examining key characteristics of culture. We show that family-ownership is positively correlated with power distance (PD), in-group collectivism (CI) and, insignificantly, with uncertainty avoidance (UA). Our study makes a contribution to the field since previous research used religion and language as umbrella constructs for culture, while we pinpoint specific cultural dimensions.
Keywords: Family-Owned Firms, Cultural Differences, Ownership Type, International Study
How to cite this paper: Shoham, A., & Yaari, V. (2009). An international study of the impact of cultural factors on the prevalence of family-owned firms. [Special issue]. Corporate Ownership & Control, 6(4-5), 524-531. https://doi.org/10.22495/cocv6i4sip3
