Ocena wpływu relacji własność – zarządzanie na wyniki finansowe polskich firm rodzinnych
Evaluation of Ownership – Management Relation on Fundamentals of Financial Performance in Polish Family Businesses

Summary/Abstract: The main purpose of this article is to verify the impact of corporate governance model on the financial performance of small family businesses in Poland. Implementation of the aim was held on the basis of empirical analysis of financial results over 24,000 small family businesses from the period 2008–2013. The results may suggest that involvement of the owner of the family business in the governance structure yields positive results in terms of achieved by those entities operating margin, net profit margin and return on equity and assets. These results may be an indication for the owners of family businesses in shaping the governance model. What is also important according to author’s knowledge, this is the first verifying procedure of family owner involvement dependence on business efficiency on such a large sample of subjects in Poland.

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