Comparative Empirical Study Of The Performance In Listed Family And Non-family Companies

Whether the family firm is more advantaged is the focus of debate theoretically. The listed family companies are different from other listed companies in shareholding structure and the internal arrangements, this character lead to different firm performance. Generally speaking, the preceding studies pay little attention in the comparison between listed family firms and listed non-family companies. This paper will focus on the difference of firm performance between listed family firms and listed non-family companies.By consulting the papers concerning ownership concentration and firm performance, this thesis, basis on data of listed companies, compare the firm performance between family company and non-family company, try to find whether the performance of family listed companies are better than non-family.In empirical analysis, the thesis use Independent-Samples T Test and two-way ANOVA, find out that the firm performances of family firm are better than non-family firm on the index of CROA, CPM, TAV and TAS. Using regression, find out there is converse"U"correlativity between ownership concentration of non-family firm and TAV.