earticle

영어

I investigate the relation between owner-family ownership and corporate productivity (performance) using the 317 non-financial and non-construction firms listed on the Korea Stock Exchange. I find owner-family ownership is both prevalent and substantial ; owner-families are present 90.5 percent of sample. Contrary to my conjecture which owner-family firms perform better than non-owner- family ones, the owner-family ownership is not a significant determinant of the corporate performance. Accordingly there is not accepted the results of the prior studies which owner-family firms are more effective business structure than non-owner-family ones in Korea.