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Slack Resources and the Performance of Privately Held Firms

Gerard George

Singapore Management University

Academy of Management Journal, Vol. 48, 2005

Empirical findings from publicly traded firms and behavioral theory arguments suggest a positive influence of resource slack on financial performance. While this area has remained unexplored in privately held firms, conceptual arguments indicate that resource constraints may serve to enhance performance. Longitudinal data on 900 privately held firms confirm the differential influence of forms of slack on performance. Results indicate that a combination of behavioral and resource-constraints arguments are necessary to explain the slack-performance relationship in privately held firms.

Number of Pages in PDF File: 36

Keywords: Resources, slack, endowments, efficiency, performance, private firms, family business

JEL Classification: D21, D23, D24, G32, L23, M13, M1

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Date posted: July 15, 2004  

Suggested Citation

George, Gerard, Slack Resources and the Performance of Privately Held Firms. Academy of Management Journal, Vol. 48, 2005. Available at SSRN: http://ssrn.com/abstract=564585

Contact Information

Gerard George (Contact Author)
Singapore Management University ( email )
469 Bukit Timah Road
Singapore 912409
HOME PAGE: http://www.smu.edu.sg/faculty/profile/118836/Gerry-GEORGE
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