Block, Jörn Hendrich; Thams, Andreas - Sonderforschungsbereich 649: Ökonomisches Risiko, … - 2007
A stronger long-term orientation is considered a competitive advantage of family firms relative to non-family firms. In … this study, we use panel data of U.S. firms and analyze this proposition. Our findings are surprising. Only in when the … family is involved in the management of the firm is the firm found to invest more in long-term projects relative to a non …