The impact of family involvement on SMEs performance : theory and evidence

De Massis, Alfredo and Kotlar, Josip and Campopiano, Giovanna and Cassia, Lucio (2015) The impact of family involvement on SMEs performance : theory and evidence. Journal of Small Business Management, 53 (4). pp. 924-948. ISSN 0047-2778

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By complementing agency theory with behavioral assumptions, we explore the effects of family involvement on SMEs’ performance. We identify three separate dimensions of family involvement and hypothesize non-linear, direct and interaction effects on the performance of an SME. The evidence on 787 SMEs suggests that an inverted U-shaped relationship exists between family ownership and performance, and ownership dispersion among family members negatively affects performance. Balancing family and non-family members in the TMT is found to be beneficial to SMEs’ performance, but the family ratio in the TMT becomes crucial only at high levels of family ownership.

Item Type:
Journal Article
Journal or Publication Title:
Journal of Small Business Management
Additional Information:
This is the peer reviewed version of the following article: De Massis, A., Kotlar, J., Campopiano, G. and Cassia, L. (2015), The Impact of Family Involvement on SMEs’ Performance: Theory and Evidence. Journal of Small Business Management, 53: 924–948. doi: 10.1111/jsbm.12093, which has been published in final form at This article may be used for non-commercial purposes in accordance With Wiley Terms and Conditions for self-archiving.
Uncontrolled Keywords:
?? business, management and accounting(all)strategy and managementmanagement of technology and innovation ??
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Deposited On:
21 May 2014 15:14
Last Modified:
18 Dec 2023 01:22