Can Families Resist Managerial and Financial Revolutions? Swiss Family Firms in the Twentieth Century

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Serval ID
serval:BIB_32AC2E983B8F
Type
Article: article from journal or magazin.
Collection
Publications
Institution
Title
Can Families Resist Managerial and Financial Revolutions? Swiss Family Firms in the Twentieth Century
Journal
Business History
Author(s)
Ginalski S.
ISSN
0007-6791
Publication state
Published
Issued date
2013
Peer-reviewed
Oui
Volume
55
Number
6
Pages
981-1000
Language
english
Abstract
The aim of this contribution is to highlight the long-term evolution of family capitalism in Switzerland during the twentieth century. We focus on 22 large companies of the machine, electrotechnical and metallurgy (MEM) sector whose boards of directors and general managers have been identified in five benchmark years across the twentieth century, which allows us to distinguish between family-owned and family-controlled firms. Our results show that family firms prevailed until the 1980s and thus contradict the dominance of 'managerial capitalism'. Although we observe a decline of family capitalism during the last decade of the century, the significant remaining presence of family firms in 2000 allows us to relativise the advent of investor capitalism.
Keywords
family firms, machine, metallurgy, Switzerland, ownership and control, corporate governance, managerial revolution, investor capitalism
Create date
02/11/2012 10:52
Last modification date
20/08/2019 13:18
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