The notion of risk and entrepreneurship has been widely discussed in the entrepreneurship literature. Starting a business involves risk and requires a risk-taking attitude. Most studies have com-pared entrepreneurs with non-entrepreneurs such as managers or bankers. So far, little research...

Family firms are important not only for a region but for the economy as a whole. In particular, the long-term orientation and the local embeddedness of family firms suggest a positive effect on regional innovation activity. Yet, despite the widely acknowledged importance of family firms for the...

The relationship between CEO pay and performance has been much analyzed in the management and economics literature. This study analyzes the structure of executive compensation in family and non-family firms. In line with predictions of agency theory, it is found that the share of base salary is...