Financial performance of family businesses in Chile.

Abstract

The participation of a family in the ownership of a company is a key factor in its performance. In this context, Chilean family companies are compared with non-family ones, between 2013 and 2017. 80 companies are identified, analyzing their financial performance under the profitability indicators: on assets (ROA), on capital (ROE) and on the market value (QTobin). Methodologically, a fixed-effect regression was performed using explanatory variables. It was evidenced that the participation of a family in the property has a positive impact on its performance, especially when there is greater participation in the board of directors, in positions of president of the company, and when the CEO is part of the family.