The purpose of this article is to provide an explanation for the contradictory evidence in the literature regarding the performance of family-owned firms. The article suggests that most of the research fails to clearly describe the “family effect” on organizational performance. The “family effect,” based on agency theory and the resource-based view of the firm, is described and propositions are generated that examine the relationship between families and organizational performance. Implications for theory and research are also discussed.

Examining the “Family Effect” on Firm Performance

This paper reviews the research to date on succession in the field of family business management. Five streams of research are highlighted: (1) succession as a process, (2) the role of the founder, (3) the perspective of the next generation, (4) multiple levels of analysis, and (5) characteristics of effective successions. Gaps in the literature and future research directions are also presented.

Succession in Family Business: A Review of the Research

Correlates of success in family business transitions

An agency theory framework is used to test the effects of founding family control on firm performance, capital structure, and value. Both the finance and management literatures regarding the relati...

https://papers.ssrn.com/sol3/Delivery.cfm/JSBM_JSBM4.pdf?abstractid=2528310&mirid=1&type=2

Founding Family Controlled Firms: Performance, Risk, and Value

The impact of the family and the business on family business sustainability

The Family in business

Elicitation interviews on the topic of “cabin fever” were carried out with a sample of 35 Minnesota men and women, ages 17 to 84. Informant conceptions of cabin fever overlapped but were not identi...

Roxanne Marie Anderson

Papers

The Family in business

The Meaning of “Cabin Fever”

Family Conflict over Inheritance of Property

Intergenerational transfer of farm land.

The Family in Business