Building on the theory of Burkart et al. (2003) that family ownership and control of firms mitigate the twin conflicts … and informal governance within controlling families helps mitigate conflicts among family members, a third type of agency … problem unique to family firms. We analyze the internal governance of firms' controlling families and its effects on corporate …

This research examines the effectiveness of Family Constitution or Family Protocol agreements in mitigating each type … of agency conflict in family firms. We performed a qualitative analysis, through a case study, and found that the … succession process is the main driver for implementing this family governance mechanism. Our findings also show that a family …

of the presence of banker-director on the board of family firms. We posit several hypotheses that highlight the pros and … that bankers are less likely on boards on family firms that operate in industries where the possibilities of knowledge …

Evidence from around the globe shows that family firms are enduring, resilient forms of profit-seeking and not an … archaic, transient form that will inevitably disappear. Social science research has tended to characterize the family values … suggests an alternative heuristic approach of treating family firms as kinship enterprises that endure beyond the life of the …

and board leadership. Our paper studies the role of directors with family connections and its impact on financial outcomes …. We find that firms with a high presence of family related directors exhibit superior accounting profitability. However … to perceive that domination of family members on the board could potentially lead to expropriation of wealth at the …

The aim of this paper is to examine how family businesses and non-family businesses pay their CEOs differently and the … relationships among family firms, executive pay and corporate governance mechanisms. The empirical results show that compare with … non-family businesses, family businesses tend to grant more fixed compensation and less performance-based pay to their …