Berlemann, Michael; Jahn, Vera; Lehmann, Robert - 2020
attributed to the business model of the German Mittelstand firm. Somewhat surprisingly, this claim has never been backed by … Mittelstand enterprises, defined as owner-managed SMEs. We present supporting evidence for the hypothesis that Mittelstand firms … performed more stable throughout the Great Recession than non-Mittelstand firms. We also show that owner-managed SMEs performed …