We investigate how family ownership influences the industry-diversifying nature of M&As by listed companies in Continental Europe and the corresponding shareholder value effects at deal announcement. For a large sample of 3,485 M&As during 2005–2013, we observe that acquirers having a family...

High-growth businesses are a relevant phenomenon for economies as they represent an important driver for economic growth and an efficient allocation of resources that can be inductive of wealth creation. Despite the importance that has been given to this phenomenon, inequalities regarding the...