The Existence of Nepotism:

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Other Title
  • 血縁主義の弊害：日本の同族企業の長期データを用いた実証分析
  • ケツエン シュギ ノ ヘイガイ : ニホン ノ ドウゾク キギョウ ノ チョウキ データ オ モチイタ ジッショウ ブンセキ
  • An Empirical Analysis with Long-Term Data on Japanese Family Firms

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Description

By using long-term data on Japanese family firms, this study explores whether the nepotism, which is defined by the non-elite family heir transition, facilitates or hinders the firm performance. We define the successors’ capability by their educational background, classify the family heir succession into elite and non-elite family heirturnover, and compare the firm performance between non-elite family heir transition and other succession categories. We employ several estimation approaches, including simple Difference-in-Differences (DID) estimation, DID regression with control variables, regression analysis for control successor’s past experience, and instrument variable estimation, in order to avoid endogeneity bias. As a result, we find that firms converting from family to non-elite family management perform poorly than other successioncases, including non-consanguineous heir succession and professional management transition among non-family firms.

Journal

  • Organizational Science

    Organizational Science 48 (1), 38-51, 2014-09-20

    The Academic Association for Organizational Science

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