This study presents the results of a meta-analysis of the financial performance of family firms. Drawing on a sample of 380 studies, we find that family firms show an economically weak, albeit statistically significant, superior performance compared to non-family firms. Furthermore, we find...

Bayesian methods constitute an alternative to null hypothesis significance testing (NHST). This article briefly reviews the concept of Bayesian methods, describes their differences from NHST, and discusses the potential of Bayesian methods to advance family business research and practice. We...

Many start-ups chose to compete with incumbent firms using one of two generic strategies: cost leadership or differentiation. Our study demonstrates how this choice depends on whether the startup was founded out of necessity. Our results, based on a representative data set of 4,568 German...

We employ agency theory to argue that the effects of family (and founder) ownership versus management will be quite different: the former is expected to contribute positively to performance, the latter is argued to erode performance. Previous studies, due to problems of multicollinearity have...

Many start-ups chose to compete with incumbent firms using one of two generic strategies: cost leadership or differentiation. Our study demonstrates how this choice depends on whether the start-up was founded out of necessity. Our results, based on a representative data set of 4,568 German...