Mehrotra, Vikas; Morck, Randall; Shim, Jungwook; … - In: Journal of Financial Economics 108 (2013) 3, pp. 840-854
We find inherited family firms more important in postwar Japan than generally realized, and also performing well on average. Non-consanguineous heir-run firms outperform blood heirs' firms, and roughly match founder-run listed firms, while blood heirs surpass professional managers at running...