Investigating the Impact of Corporate Governance and Company Strategy on the Performance of Family-Owned Companies

Abstract

The main purpose of this study is to investigate the impact of corporate governance and company strategy on the performance of family-owned companies among companies listed on the Tehran Stock Exchange.The present study is in the group of descriptive-correlational researchers in terms of applied purpose and terms of the data collection method. Also, to select the sample size, a systematic elimination sampling method (screening) was used, which according to the considered conditions, finally 183 companies in a period of 6 years between 1394 to 1399 (a total of 1098 years- Companies) were analyzed. To test the hypotheses, multivariate regression methods have been used using Eviews8 software and using panel data method - fixed effects and integrated data method.The results obtained in this study show that in general, family ownership has an inverse and significant relationship with the financial performance of companies. The effect of institutional ownership on the relationship between board independence, managers' rewards, and company diversity with corporate financial performance has been positive and significant

Keywords

• corporate governance
• corporate strategy
• financial performance
• family ownership