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Sabotage! Whistle-blowing Inside Family Firms During Succession Tournaments

이종섭

Seoul Journal of Business, 2022-06, Vol.28 (1), p.67-112 [Periódico revisado por pares]

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Título:
Sabotage! Whistle-blowing Inside Family Firms During Succession Tournaments
Autor: 이종섭
Assuntos: Corporate governance ; Culture ; Family owned businesses ; Fraud ; Investigations ; Leadership ; Stockholders ; Tournaments & championships ; Traditions ; Whistleblowing
É parte de: Seoul Journal of Business, 2022-06, Vol.28 (1), p.67-112
Descrição: We document an unusual surge in fraud investigations for family firms with multiple sons who compete for leadership successions. Shareholders negatively react to the news, while such fraud investigations are concentrated in firms run by families with extensive internal conflicts, leading to strong whistle-blowing incentives inside the family (i.e., sabotage). Using the sudden death of a chairman as an exogenous shock that increases conflicts among potential heirs of the family firm, we find sharply increasing fraud investigations after the chair's death. Overall, our results shed new light on the significant spillover from family governance to corporate governance in family-run organizations.
Editor: Seoul: 경영연구소
Idioma: Coreano;Inglês

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