The article titled 'Toward a theory of agency and altruism in family firms' by Schultz et al. uses the agency theory to better understand the dynamics of family firms. However, it is sometimes confusing as to whether the authors are attempting to further develop agency theory or whether they are...

There remains a good deal of uncertainty as to whether and under which governance conditions family firms, even large, publicly traded ones, are entrepreneurial. We shall argue that agency theory, behavioral agency perspectives, and the resource-based view all posit both positive and negative...

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...