Using detailed ownership and financial information available for a large sample of owner-managed private firms in three West European countries, this paper examines the relationship between manager's age and firm's performance. Tracking firms over time, we find that as a manager ages, the firm...

We show that family ownership is associated with more stable and liquid, but slower growing, young firms. Using a large sample of private firms across Europe, we find that family-owned firms have higher profit margins, returns on assets, and survival rates compared to non-family-owned firms....

Using a large sample of private firms across Europe, we examine how the social context of owners affects firm strategy and performance. Drawing on embeddedness theory and the institutional logics perspective, we argue that embeddedness in a family, particularly the nuclear family, can strenghten...