Finance Seminar（2015-18）

Topic: Exits in Family Firms

Speaker: Yupana Wiwattanakantang ,National University of Singapore

Time: Wednesday, 10 June, 10:00-11:30

Location: Room 217, Guanghua Building 2

Abstract: It is widely thought that family control is rare when the firms grow larger over time. Our analysis, which is based on listed firms in Japan since 1949, however, challenges the conventional view. We show that even 50 years after IPO the founding family remains in control in almost 80% of the firms in our sample. Family firms that survive are those that manage to solve not only constrains imposed by the family but also financial constrains in particular via the family’s unique assets namely reputation, networks of financiers, and competent human resources.