Research has long acknowledged the salutary impact of foreign capital on business practices, including corporate governance practices, in developing countries. But past research has tended to assume that the relevant change agents were foreign organizations, such as multinational corporations....

We reassess the effects of family ownership and strong family control on non-family minority and non-controlling shareholders. We argue that assumptions and interpretations regarding the cost and benefits of family ownership in the extant literature need to be understood relative to other firm...