, we constructed a unique data set of family trees and business groups for nearly 100 of the largest business families in … Thailand. We find a strong positive association between family size and family involvement in the ownership and control of the … family business. The sons of the founders play a central role in both ownership and board membership, especially when the …

. Yet the family (and decision-making in families) is typically ignored in macroeconomic models. In this chapter, we argue … that family economics should be an integral part of macroeconomics, and that accounting for the family leads to new answers … fluctuations, and argue that changes in family structure in recent decades have important repercussions for the determination of …

One criticism of the estate tax is that it prevents the owners of family businesses from passing their enterprises to …

We examine the interaction between three kinds of concentrated owners commonly found in an emerging market: family …

We use a simple random growth model to study the role of changing dynamics of family firms in shaping the evolution of … shocks to the value of family firms is similar to that found for public firms by Herskovic, Kelly, Lustig, and Van … Nieuwerburgh (2016) over the past 100 years. We also show that consideration of family firms contributes not only to overall wealth …

Family firms depend on a succession of capable heirs to stay afloat. If talent and IQ are inherited, this problem is … mitigated. If, however, progeny talent and IQ display mean reversion (or worse), family firms are eventually doomed. This is the … essence of the critique of family firms in Burkart, Panunzi and Shleifer (2003). Since family firms persist, solutions to this …

In part due to the popular perception that Big-Boxes displace smaller, often family owned (a.k.a. Mom-and-Pop) retail …

, pyramidally) as the family uses well-established group firms ("central firms") to set up and acquire younger firms that have low … profitability and high capital requirements. Chaebols grow horizontally (that is, using direct family ownership) when the family …) lower profitability of pyramidal firms is partly due to a selection effect (e.g., the family optimally places low …