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The Role of Family in Family Firms

The Role of Family in Family Firms Abstract History is replete with examples of spectacular ascents of family businesses. Yet there are also numerous accounts of family businesses brought down by bitter feuds among family members, disappointed expectations between generations, and tragic sagas of later generations unable to manage their wealth. A large fraction of businesses throughout the world are organized around families. Why are family firms so prevalent? What are the implications of family control for the governance, financing and overall performance of these businesses? http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Economic Perspectives American Economic Association

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Publisher
American Economic Association
Copyright
Copyright © 2006 by the American Economic Association
Subject
Symposia
ISSN
0895-3309
DOI
10.1257/jep.20.2.73
Publisher site
See Article on Publisher Site

Abstract

Abstract History is replete with examples of spectacular ascents of family businesses. Yet there are also numerous accounts of family businesses brought down by bitter feuds among family members, disappointed expectations between generations, and tragic sagas of later generations unable to manage their wealth. A large fraction of businesses throughout the world are organized around families. Why are family firms so prevalent? What are the implications of family control for the governance, financing and overall performance of these businesses?

Journal

Journal of Economic PerspectivesAmerican Economic Association

Published: Jun 1, 2006

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