Abstract

Historically, family firm researchers have studied the influence a family might have on firm financial and innovative performance. Researchers have recently begun to theorize about, and empirically examine, the relationship between the family firm structure and corporate social performance (CSP). Our purpose in this paper is to develop and test hypotheses regarding contextual moderators of the family firm structure-CSP relationship. To do so, we examine two forms of institutional ownership (investment management funds and public pension funds), outsider board representation, and firm size as contextual moderators.

Drawing on prior research examining the influence of institutional ownership on CSP we expect that investment management fund ownership will negatively moderate the relationship between family firm structure and CSP while public pension fund ownership will positively moderate the relationship. We also expect that outsider representation on the board positively moderates the relationship between family firm structure and CSP. Lastly, we propose that firm size negatively moderates the relationship between family firm structure and CSP.

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