Change in Illiquidity of Family Firms with Institutional Pressure: Evidence from India

This paper investigates the impact of the family business on illiquidity in an emerging market and how it evolves with regulatory changes. The study uses panel data multiple regression on a sample of 25,418 observations on 3,606 firms from India within nine years from 2006 to 2014. The study finds t...

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Autores principales:	Amit Chakrabarti, Kaveri Krishnan
Formato:	article
Lenguaje:	EN
Publicado:	Pompea College of Business 2021
Materias:	stock liquidity emerging economy family firms market reforms Business HF5001-6182
Acceso en línea:	https://doaj.org/article/6fc0bda588c74d97914778306632719d
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spelling	oai:doaj.org-article:6fc0bda588c74d97914778306632719d2021-11-16T19:21:03ZChange in Illiquidity of Family Firms with Institutional Pressure: Evidence from India10.37625/abr.24.2.173-1970743-23482689-8810https://doaj.org/article/6fc0bda588c74d97914778306632719d2021-11-01T00:00:00Zhttps://digitalcommons.newhaven.edu/americanbusinessreview/vol24/iss2/9/https://doaj.org/toc/0743-2348https://doaj.org/toc/2689-8810This paper investigates the impact of the family business on illiquidity in an emerging market and how it evolves with regulatory changes. The study uses panel data multiple regression on a sample of 25,418 observations on 3,606 firms from India within nine years from 2006 to 2014. The study finds that family firms have significantly higher illiquidity compared to non-family firms. Moreover, family businesses have successfully resisted the institutional pressure to decrease illiquidity and have also defied these coercive pressures to increase the illiquidity of family businesses finally. The study also found heterogeneity in the behaviour of family businesses based on their ownership characteristics.Amit ChakrabartiKaveri KrishnanPompea College of Businessarticlestock liquidityemerging economyfamily firmsmarket reformsBusinessHF5001-6182ENAmerican Business Review, Vol 24, Iss 2, Pp 173-197 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	stock liquidity emerging economy family firms market reforms Business HF5001-6182
spellingShingle	stock liquidity emerging economy family firms market reforms Business HF5001-6182 Amit Chakrabarti Kaveri Krishnan Change in Illiquidity of Family Firms with Institutional Pressure: Evidence from India
description	This paper investigates the impact of the family business on illiquidity in an emerging market and how it evolves with regulatory changes. The study uses panel data multiple regression on a sample of 25,418 observations on 3,606 firms from India within nine years from 2006 to 2014. The study finds that family firms have significantly higher illiquidity compared to non-family firms. Moreover, family businesses have successfully resisted the institutional pressure to decrease illiquidity and have also defied these coercive pressures to increase the illiquidity of family businesses finally. The study also found heterogeneity in the behaviour of family businesses based on their ownership characteristics.
format	article
author	Amit Chakrabarti Kaveri Krishnan
author_facet	Amit Chakrabarti Kaveri Krishnan
author_sort	Amit Chakrabarti
title	Change in Illiquidity of Family Firms with Institutional Pressure: Evidence from India
title_short	Change in Illiquidity of Family Firms with Institutional Pressure: Evidence from India
title_full	Change in Illiquidity of Family Firms with Institutional Pressure: Evidence from India
title_fullStr	Change in Illiquidity of Family Firms with Institutional Pressure: Evidence from India
title_full_unstemmed	Change in Illiquidity of Family Firms with Institutional Pressure: Evidence from India
title_sort	change in illiquidity of family firms with institutional pressure: evidence from india
publisher	Pompea College of Business
publishDate	2021
url	https://doaj.org/article/6fc0bda588c74d97914778306632719d
work_keys_str_mv	AT amitchakrabarti changeinilliquidityoffamilyfirmswithinstitutionalpressureevidencefromindia AT kaverikrishnan changeinilliquidityoffamilyfirmswithinstitutionalpressureevidencefromindia
_version_	1718426109182214144

Change in Illiquidity of Family Firms with Institutional Pressure: Evidence from India

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