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Wolverhampton Intellectual Repository and E-Theses > Business School > Management Research Centre  > The views of UK family business owners on flotation

Please use this identifier to cite or link to this item: http://hdl.handle.net/2436/26852
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Title: The views of UK family business owners on flotation
Authors: Poutziouris, Panikkos
Wang, Yong
Citation: International Journal of Entrepreneurial Behaviour & Research, 10 (1/2): 106-126
Publisher: Emerald
Journal: International Journal of Entrepreneurial Behaviour & Research
Issue Date: 2004
URI: http://hdl.handle.net/2436/26852
DOI: 10.1108/13552550410521407
Additional Links: http://www.emeraldinsight.com/Insight/viewContentItem.do?contentType=Article&contentId=872122
Abstract: This empirical research paper draws evidence from a database of UK independent private companies (n=250) and reports on the financial aspirations of owner-managers of family firms with respect to the flotation route. Following a brief review of the literature, the paper proceeds with an introduction of the UK survey into the financial development of private SMEs. Then evidence is presented on the perceived factors that influence the decision of owner/directors of family companies to consider the flotation option. Phase A employs univariate statistical analysis to contrast financial philosophies of the owner-managing directors (OMDs) of family firms against those of their mainstream private counterparts. Phase B employs cluster analysis to categorise sample family companies into four generic groups that evidently highlight that the PLC route is not always tailored to financial issues. The empirical results demonstrate that the financial strategies of family companies are more or less in line with the behavioural issues shaping all private companies irrespective of family control. Finally, the paper concludes with a set of tentative policy implications. To encourage the public equity development of smaller privately held companies, particularly family firms, there is scope for more policy initiatives that are tuned to the "socio-behavioural-cultural" ethos of private-OMDs as they master their corporate and entrepreneurial odyssey.
Type: Article
Language: en
Keywords: Family firms
Finance
Flotation of companies
Business performance
ISSN: 13552554
Appears in Collections: Management Research Centre

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