Do family businesses perform better than the market in U.S.A.

: the jewish case

Abstract

This thesis investigates the Family Businesses and the Jewish Family Businesses monthly stock price performance compared with Non-Family Businesses and Non-Jewish Family Businesses. Some previous studies concluded that on average Family Businesses as a whole tend to have a better long term performance and create more value when compared with Non- Family Businesses. Jews are known, and/or stereotyped, to do better in economic terms and to be healthier, so this study aimed at discovering if this tendency does translate in a better company performance. Family Businesses theoretically can render this better as the culture and values will be more present in the company. Using the companies of the S&P 500 of 2014 as a sample, and analyzing them from 2005 to 2014, we observe that, although with no statistical significance, the Non-Family Businesses performed better than the Family Businesses as a whole, but on average the Jewish Family Businesses are the ones that performed better.

Date of Award	2015
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Pramuan Bunkanwanicha (Supervisor)