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 represents a selection index of the 30 largest and most liquid Prime …

Recent research indicates that the majority of listed firms in Germany (and also in many other countries around the … listed companies. This article introduces the concept of an ownership-based style index of listed firms in Germany, the …

Recent research indicates that the majority of listed firms in Germany (and also in many other countries around the … listed companies. This article introduces the concept of an ownership-based style index of listed firms in Germany, 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 represents a selection index of the 30 largest and most liquid Prime …

This paper studies the relationship between ownership concentration, family ownership, management, and market and …-shaped relationship between ownership concentration and market performance, present in family and non-family firms, pointing out an … entrenchment effect or excessive risk aversion of the controlling group. The effect is worsened for family firms. The presence of …

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 …

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 …

We find that the difference between the mean return on assets of all Norwegian family firms and nonfamily firms is 1 ….4 percentage points and positive every year over twenty years. This family firm premium increases when the family as a whole owns a … increases when the family has less personal wealth, less diversified wealth, and less liquid shares. This evidence suggests that …

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 …

We study the effects of family control on CEO pay from the perspective of behavioral agency model (BAM), with … particular focus on family firm's generational stage and CEO family ties. Using a panel of Australian listed firms, we find that … family firms present lower total and variable CEO pay, showing also less pay disparity between the CEO and other top …