Prior economic research is very critical about family CEOs and family management. Nepotism, altruism, lower managerial abilities, and a small pool of qualified family candidates are cited as reasons that speak against family management. Still, the empirical reality is different. A surprisingly...

Cohabiting couples are a rapidly growing family form in the world today. However, this family form has not been accounted for in family business research. In this article, we examine the differences between cohabiting couples and married couples in terms of human capital, social capital, and...

The longevity that characterizes many family businesses is explained, to a large extent, by the continuous effort that is made within them to ensure their own governance over the years. To this end, it is important that the structures and regulations developed in the various decision-making...

Empirical studies suggest that the business talents of the heir to a family firm can have a large and significant effect on firm prospects. However, we still do not know how heirs, especially those who are good at making and executing business decisions, credibly reveal their talents to other...

The benefits of family ownership and control of firms are at the center of the family firm debate. Previous studies have used either family ownership or management as proxies for control. Both indicators are off the mark, as they do not measure "decision control" as intended by the theory of the...

Building on the theory of Burkart et al. (2003) that family ownership and control of firms mitigate the twin conflicts between owners and managers and between majority and minority owners, we suggest that the allocation of firm ownership rights and informal governance within controlling families...

The aim of this paper is to examine how family businesses and non-family businesses pay their CEOs differently and the role corporate governance plays in the process. This is an empirical study to analyze the data of 400 listed firms on the Hong Kong Stock Exchange Main Board Market during...

We study 288 family firms included in the NSE CNX 500 index of the National Stock Exchange of India. We find an entrenchment-alignment-entrenchment relationship between family ownership and firm value. We show that family CEO has a negative moderating effect on the relationship between family...

We examine how ownership by couples affects risk taking in family firms. We find that firms co-owned by couples exhibit significantly lower stock return volatility. This result is robust to a difference-in-differences approach based on a smaller sample and an instrumental variable approach....