Using a survey of 800 CEOs in 22 emerging economies we show that CEOs' management styles and philosophy vary with the … control rights and involvement of the owning family and founder: CEOs of firms with greater family involvement have more … also see their role as maintaining the status quo rather than bringing about change. In contrast, professional CEOs of non …

Corporate managers who own a majority of the common stock in their company or who represent another firm owning such an … interest appear to be less constrained than managers of diffusely held firms, yet their power to harm minority shareholders …. Finally, there is little evidence that new organizational mechanisms have evolved to constrain managers who own large blocks …