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...

Establishing a family council can be beneficial for business families. However, determining the optimal circumstances to do so can be challenging. While some experts argue that a family council always provides long-term benefits, recent research on family councils suggests that there are certain...

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...

In January 2010 the Deutsche Börse Group introduced two family firm stock indices. Both indices are calculated as price and performance indices and extend the number of investment strategy indices of Deutsche Börse Group. The DAXplus Family is an all-share index whereas the DAXplus Family 30...

The role of owner-family members as internal monitors of firm performance has been largely neglected in family business studies so far. While family management of firms does not lead to clear performance improvements, accounting research has shown that families are better monitors. In this...

This paper studies the relationship between ownership concentration, family ownership, management, and market and accounting performance for 59 industrial firms listed in the Lima Stock Exchange. Data go from 1999 to 2005. We find an inverse U-shaped relationship between ownership concentration...