ABSTRACT
This study examined the impact of internationalization of family and non-family firms on their respective financial performances and compares their performance pre and post internationalization. Ten family and 10 non-family firms were chosen that engaged in internationalization during the period 2009–10 to 2017–18. We found that a large proportion of both family and non-family firms showed no significant difference in their financial performance after undergoing internationalization. Moreover, after comparing these two types of firms, we were unable to find a significant difference in the proportion of the firms that are insignificantly different in their pre- and post-internationalization market value. On the other hand, these proportions were different for the variables of profitability, market prospects, and leverage, and it seems that relatively more family firms are likely to witness a difference in their financial performance as a result of Internationalization.
