Kształtowanie funkcji właścicielskich i menedżerskich w średnich firmach rodzinnych – aspekt finansowy
Shaping the Ownership and Management Functions in Medium–Sized Family Businesses – the Financial Aspect

Summary/Abstract: The main aim of the article was to analyze the impact of family Involvement in management and in ownership on selected financial indicators of medium–sized family businesses in Poland. The authors analyzed presented relations according to the fundamental assumptions of the agency theory, stewardship theory, as well as the stagnation perspective. An empirical study was prepared on a bases of linear regression model examined the presence of the relationship between the FIO and FIM and return of assets and return of equity based on a sample of 776 medium–sized family businesses. The results suggest that there is positive relationship between FIM and the financial performance of medium–sized family businesses. Presented final effects and conclusions could fill the gap in analyzed research area on the case of Polish family businesses, what is more can provide a guidance to owners of family businesses in the development of effective manager – owner relations.

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