#2316. Clan culture and family ownership concentration: Evidence from China

September 2026publication date
Proposal available till 30-05-2025
5 total number of authors per manuscript3530 $

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Journal’s subject area:
Finance;
Economics and Econometrics;
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Abstract:
This study explores a cultural determinant of family ownership concentration of a corporate. Using hand-collected genealogy information and a panel of listed family firms, we find robust evidence that clan culture influences are associated with a significantly higher family ownership concentration. By taking advantage of firm owner birthplace information, we are able to separate the impact of inherited clan culture from that of external environmental factors. To further establish causality, we also employ an instrumental variable (IV) regression strategy and explore the underlying mechanisms.
Keywords:
Clan culture; Corporate ownership structure; Family ownership

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