Uniwersyteckie Czasopisma NaukoweA mediation analysis of performance differences between family and non-family businesses
Słowa kluczowe:
family business, goal setting, business performance, mediation analysisAbstrakt
The article analyzes the connection between business ownership, goal setting, and financial performance. Understanding this relationship is essential to deepen the comprehension of the family’s effect on business and its financial performance. Research in this particular area is steadily growing, but many significant questions remain unanswered, and disputes continue. This article answers the following research question: In what way does family ownership influence goal setting and financial business performance? It also seeks to identify items of goal setting and financial performance that are significantly influenced by business ownership. The analysis is performed using a single-mediator structural model based on survey data. The dataset consists of an ownership variable according to the EU definition of family business, goal setting items, and subjective performance measures. The results show that small and medium-sized family businesses achieve superior financial performance compared to non-family businesses, and that the positive relationship between family business ownership and financial performance is mediated by goal setting.
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