Family firms employ about 60% of the global workforce. While it is widely assumed that they
are good employers, data about their conduct are mixed. In this study, we extend …

This article examines whether agency or stewardship is the more effective form of
managerial governance within family firms. Synthesizing arguments regarding the …

Prior studies find that nonfamily managers enhance family firm performance, yet other
studies note that family firms have difficulty attracting high-quality nonfamily managers, often …

Research on the performance of family firms is growing, but results are mixed, especially for
nonlisted companies. Thus, on the basis of the co-presence of benefits and disadvantages …

There has been much debate concerning the performance of family firms and the drivers of
their performance. Some scholars have argued that family management is to blame when …

Family involvement in a business has the potential to both increase and decrease financial
performance due to agency costs. In this article we discuss the different nature of agency …

This paper empirically examines how family-controlled firms perform in relation to firms with
nonfamily controlling shareholders in Western Europe. The sample consists of 1672 non …

Family firms play an important role in most economies. This fact is due not only to family
firms' share of overall revenues or jobs, but also because they are commonly assumed to be …

In this study we investigate how the dispersion of family ownership among family members
affects the performance of small-to-medium-size family firms. Based on agency theory and …

This study analyses the effects of agency conflict between “active family owners”(who
participate in firm management) and “passive family owners”(who do not do so) on the …