Legitimacy Coupling of Family Businesses and Professional Managers
This study explores the legitimacy coupling between family firms and professional managers. We select family-listed companies from 2017-2021 as our sample and find that legitimacy coupling indices of family firms and professional managers show some growth trends but family firm legitimacy lags relatively, and the relationship between them shows dynamic characteristics from primary to intermediate coordination. The study also offers countermeasures to promote the legitimacy of coupling between family firms and professional managers and promote the built-to-last of family businesses all over the world