Long-term operating performance: an empirical examination of family and non-family firms listed in Australia

This study conducts a comprehensive investigation on firms listed on the Australian Securities Exchange (ASX) during the period 1998-2010. The research has four major aims. Firstly, the research aims to undertake a comparative analysis of family and non-family businesses by applying ownership structure as an underlying factor and Agency Theory as the conceptual basis. The second aim is to examine the operating performance of family and non-family firms from industry aspects (mining vs non-mining firms). The third aim is to compare and contrast the operating performance of both types of firms for the periods prior and post the Global Financial Crisis (GFC). The last aim is to investigate the impact of value drivers on financial performance of family and non-family businesses. As there is a paucity of studies in the area encompassing Australian family listed firms, this study makes a significant contribution to the literature and to the understanding of family firm performance.