African Journal of
Business Management

  • Abbreviation: Afr. J. Bus. Manage.
  • Language: English
  • ISSN: 1993-8233
  • DOI: 10.5897/AJBM
  • Start Year: 2007
  • Published Articles: 4156

Full Length Research Paper

Family CEO and company performance during the COVID-19 crisis: The case of Cameroon

Léopold Djoutsa Wamba
  • Léopold Djoutsa Wamba
  • Department of Accounting and Finance, University of Maroua, Cameroon.
  • Google Scholar


  •  Received: 10 June 2021
  •  Accepted: 14 September 2021
  •  Published: 31 January 2022

Abstract

This study analyses the resilience of family businesses in a developing country like Cameroon during the covid-19 crisis by applying measures of association, regression analysis, and comparison tests to data collected by administering a questionnaire on a panel of 280 companies of which 196 are family businesses and 84 non-family businesses. The results show that throughout the pandemic period, family companies are more resilient in terms of financial and social performance relative to non-family businesses. We also find that among family businesses, the most successful are those with a family member as CEO or those whose management is dominated by the family controlling the firm. The results extend former research by showing that family leadership is a form of management that can provide responses to unexpected events that affect the company.

 

Key words: Family leadership, social performance, financial performance, COVID-19 crisis, family businesses.