Controlling interest and firm efficiency: Comparing family- and nonfamily-controlled Taiwanese cultural and creative industry firms
The study evaluates the efficiencies of Taiwanese cultural and creative firms, comparing family and nonfamily firms. A novel chance-constrained network data envelopment analysis model measured efficiency from 2005 to 2020. Key findings include the following: (1) Nonfamily firms are more efficient th...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
John Wiley & Sons, Ltd.
2024
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| Subjects: | |
| Online Access: | http://umpir.ump.edu.my/id/eprint/43392/ http://umpir.ump.edu.my/id/eprint/43392/1/Kweh%20et%20al.%20%282024%29_MDE_in%20press.pdf |
| Summary: | The study evaluates the efficiencies of Taiwanese cultural and creative firms, comparing family and nonfamily firms. A novel chance-constrained network data envelopment analysis model measured efficiency from 2005 to 2020. Key findings include the following: (1) Nonfamily firms are more efficient than family-controlled firms, and (2) a nonlinear relationship between controlling shareholdings and efficiency is present only in family-controlled firms. This study offers key insights for policymakers, management, highlighting the importance of R&D investment for enhancing firm efficiency, the strategic role of family control in early-stage efficiency improvements through R&D and the need for investors to adopt tailored strategies to optimize efficiency. |
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