Founding-Family Ownership and Firm Performance
研究台湾上市公司发现，创始家族所有权本身与绩效无关，但高绩效工作系统会调节二者关系：低水平时负相关，高水平时正相关。
The controversial findings of both high and low performance for family-controlled public firms offer a unique context in which to study the moderating role of high-performance work systems (HPWS) on founding-family ownership effects. In a sample of Taiwan-based public firms, founding-family ownership was found not to be associated with firm performance. However, when the level of HPWS facing family ownership was accounted for, the results showed that the relationship between founding-family ownership and firm performance is significantly negative for companies with lower levels of HPWS but is significantly positive for companies with higher levels of HPWS.