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על בעלות ועלות - האסימטריה בהתנהגות העלויות בחברות משפחתיות ותוצאותיה

Translated title of the contribution: On cost and ownership: asymmetrical cost behavior in family firms and its consequences

Research output: Contribution to journal › Article › peer-review

Abstract

Family firms constitute a substantial part of the economy and consistently exhibit higher profitability than non-family firms. While prior literature attributes this advantage to unique governance characteristics, little attention has been given to the specific mechanisms underlying superior performance. This study examines cost behavior as a potential explanation. Building on recent evidence, we argue that family firms are less prone to agency problems, managerial over confidence, and short-termism, leading them to adjust costs more cautiously and efficiently. Consequently, family firms are expected to display lower cost stickiness - or even anti-stickiness - particularly during revenue declines, there by improving resilience and profitability during economic downturns. Our findings are consistent with these predictions.
Translated title of the contributionOn cost and ownership: asymmetrical cost behavior in family firms and its consequences
Original languageHebrew
Pages (from-to)21-27
Number of pages7
Journalתיאוריה ופרקטיקה בניהול
Volume11
StatePublished - 2026

IHP publications

  • IHP
  • Cost
  • Family corporations
  • Profit

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