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Family businesses in Eastern European countries: How informal payments affect exports

Bassetti, Thomas and Dal Maso, Lorenzo and Lattanzi, Nicola Family businesses in Eastern European countries: How informal payments affect exports. Journal of family business strategy, 6. pp. 219-233. ISSN 1877-8585 (2015)

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This article investigates the effect of corruption on the export share of family firms in Eastern European countries. Using the Business Environment and Enterprise Performance Survey and panel data methods, we find that, in contrast to non-family firms, family firms are rather sensitive to corruption. In particular, the export share of family firms is positively associated with informal payments that aim to facilitate business operations. There are at least three compelling explanations for these results. First, if family firms are more risk averse than non-family firms, informal payments may represent additional export risk insurance. Second, informal payments may help family firms compensate for the lack of managerial capabilities to export. Finally, when institutional inefficiencies obstruct business, corruption may be a tool for family firms to protect their socioemotional wealth.

Item Type: Article
Identification Number: 10.1016/j.jfbs.2015.07.004
Additional Information: Scopus ID: 2-s2.0-84947342971
Uncontrolled Keywords: JEL classification: O12, O17, P2. Keywords: Informal payments; Family business; Company export orientation; Eastern European economies
Subjects: H Social Sciences > HF Commerce
H Social Sciences > HF Commerce > HF5601 Accounting
J Political Science > JZ International relations
Research Area: Economics and Institutional Change
Depositing User: Caterina Tangheroni
Date Deposited: 02 Mar 2018 11:55
Last Modified: 02 Mar 2018 11:55
URI: http://eprints.imtlucca.it/id/eprint/3935

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