We study patterns of CEO compensation in private family firms. We find that private family firms pay their CEO less than other private firms, and that the tendency of low CEO pay is stronger in family firms that have a family member as CEO. More than in other firms CEO pay in private family...

We use a unique database on family relationships between CEOs, board members and owners of private Norwegian firms to examine earnings management priorities of private family firms. Consistent with agency theory we find that private family firms generally manage earnings downward compared with...

Although a large proportion of firms are family owned and most family firms are private, our understanding of private family firms is limited. Using confidential information on family relationship between board members, CEOs, and shareholders, this is the first study that provides large-scale...