TY  - JOUR
AV  - none
N1  - Scopus ID: 2-s2.0-84947342971
SP  - 219
TI  - Family businesses in Eastern European countries: How informal payments affect exports
VL  - 6
A1  - Bassetti, Thomas
A1  - Dal Maso, Lorenzo
A1  - Lattanzi, Nicola
UR  - http://www.sciencedirect.com/science/article/pii/S1877858515000376
Y1  - 2015///
KW  - JEL classification: O12
KW  -  O17
KW  -  P2. Keywords: Informal payments; Family business; Company export orientation; Eastern European economies
SN  - 1877-8585
N2  - 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.
ID  - eprints3935
EP  - 233
PB  - Elsevier
JF  - Journal of family business strategy
ER  -