Dynastic-controlled firms are led by founding family CEOs while the family owns an insignificant share of equity (defined as less than five percent). They represent 7.4% of listed firms in post-war Japan, include well-known firms such as Casio, Suzuki and Toyota, and are often grouped with...

This paper investigates how banks and finance companies operate in a family business group. Using uniquely detailed ownership data from Thailand, we find that the controlling families extensively use pyramids to control banks and finance companies and assign different lending strategies across...