The practice of adopting adults, even if one has biological children, makes Japanese family firms unusually competitive …. Our nearly population-wide panel of postwar listed nonfinancial firms shows inherited family firms more important in … outperform non-family firms. Using family structure variables as instruments, we find adopted heirs "causing" elevated …

, we constructed a unique data set of family trees and business groups for nearly 100 of the largest business families in … Thailand. We find a strong positive association between family size and family involvement in the ownership and control of the … family business. The sons of the founders play a central role in both ownership and board membership, especially when the …

We investigate compensation policies in family and non-family firms using a novel employer-employee matched dataset … comprising nearly the universe of Italian incorporated firms and ownership information. Family firms pay significantly lower … productivity differences and compensating differentials explain little of the residual gap. The wage distribution in family firms …

, a family uses a firm it already controls to set up a new firm. This structure allows the family to 1) access the entire … family is expected to divert a large fraction of the new firm's payoff; conditions that hold in an environment with poor …. We also analyze the creation of business groups (a collection of multiple firms under the control of a single family) and …

. The strong concentration of family ownership in France is traced to historical weaknesses in the money and capital markets …

devices, a family can control corporations without making a commensurate capital investment. In many countries, such families …

Family ownership was rapidly diluted in the twentieth century in Britain. The main cause was equity issued in the … acquisitions facilitated the growth of family controlled firms in the first half of the century, they also diluted their ownership …