Listed Family Firms: Industrial and Geographical Context, Governance and Performance

21 Pages Posted: 12 Feb 2012

See all articles by Louise Scholes

Louise Scholes

Loughborough University London

Nick Wilson

University of Leeds - Credit Management Research Centre; Leeds University Business School

Mike Wright

Nottingham University Business School

Hannah Noke

Nottingham University Business School

Date Written: February 10, 2012

Abstract

This report investigates listed family firms in the UK and focuses on their incidence, industrial and geographical context, governance and performance. At the time of writing we identified 70 family firms who were listed in the years 2007-2009. The firms were listed on the London Stock Exchange, ShareMark or the Plus Stock Exchange (the latter two stock exchanges for smaller firms). In order to qualify as a family firm the European definition of a public family firm was applied which stipulates that 25% of the equity is owned by the family. The average turnover of listed family firms in 2009 was £407 million and they employed on average 2,907 employees. Comparisons have been made throughout the report with a comparator group which consists of all listed firms in the UK (approximately 3,300 firms). Listed family firms in the UK have superior profitability and considerably less debt than the population of listed firms in the UK but have a lower growth rate.

Keywords: family firm, listed, governance, performance

Suggested Citation

Scholes, Louise and Wilson, Nicholas and Wright, Mike and Noke, Hannah, Listed Family Firms: Industrial and Geographical Context, Governance and Performance (February 10, 2012). Available at SSRN: https://ssrn.com/abstract=2002906 or http://dx.doi.org/10.2139/ssrn.2002906

Louise Scholes (Contact Author)

Loughborough University London ( email )

Here East
Queen Elizabeth Olympic Park
London, E15 2GZ
Great Britain

Nicholas Wilson

University of Leeds - Credit Management Research Centre ( email )

Leeds LS2 9JT
United Kingdom
+44 (0)113 343 4472 (Phone)

Leeds University Business School ( email )

Leeds LS2 9JT
United Kingdom
+44 (0)113 343 4472 (Phone)

Mike Wright

Nottingham University Business School ( email )

Jubilee Campus
Wollaton Road
Nottingham, NG8 1BB
United Kingdom
+44 115 951 5257 (Phone)
+44 115 951 5204 (Fax)

Hannah Noke

Nottingham University Business School ( email )

Jubilee Campus
Wollaton Road
Nottingham, NG8 1BB
United Kingdom

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