Founding Family Ownership and Firm Performance: — Evidence from the Mexican Stock Exchange.

Abstract

Nosotros investigamos si existe alguna diferencia en el desempeño de las compañías familiares relativo a las no familiares, considerando una muestra del total de compañías de la bolsa de valores de México, para el periodo 2000-2009(3), donde 56 de 99 firmas fueron consideradas familiares. Explicamos la diferencia de desempeño de las compañías a partir del ROA y ROE, realizando un test de diferencia de medias entre los dos grupos de firmas para luego confirmar nuestros resultados con un análisis multivariado. Nosotros encontramos que las compañías familiares presentan un desempeño significativamente mejor que las compañías no familiares, dado un grupo de ventajas que estas presentan.

We investigate whether there is any difference in the performance of family companies on the non-family, considering a sample of the total companies in the Market Stock Exchange of Mexico, for the period 2000-2009 (3), where 56 of 99 firms were considered family. We explain the difference in performance of companies from the ROA and ROE, by a difference of mean test, between the two groups of firms and then confirm our results with multivariate analysis. We found that family companies have performed significantly better than non-family companies, given a set of advantages these present.