The research regarding the characteristics of family firm governance are mixed, with some studies suggesting the presence of benefits of concentrated ownership and others suggesting increased conflict among family employees.To better understand the functioning of family businesses, both the...

Four research issues are identified that highlight the contrasting perspectives of strategic management and finance on event-study methodology. These issues then are used to evaluate five finance procedures used to calculate market-based performance measures. In each case, alternative procedures...

This paper formulates a modification of the market model methodology that allows direct testing for the impact of mergers on market model parameters, while simultaneously estimating acquiring firm abnormal stockholder returns. A large sample of merger events is stratified in three ways:...

This study seeks to further delineate how a firm's competitive environment influences the firm's pursuit of entrepreneurial activities. To do so, we develop and test a parsimonious model that establishes the role of discretionary slack as a salient mediating mechanism through which managerial...

The core belief among agency theorists is that when a firm is both owned and managed by family members, its governance structure is efficient. We argue that this belief over-simplifies the complexity of exchanges that occur among the family firm's decision agents, and does not conform to...