Family firms account for around 75 per cent of all business enterprises in the UK, but there is a lack of research on these businesses. The family firms literature recognises that there are differences between family and non‐family businesses; differences that can be explained by conflicts...

The recent surge in the use of team-managed funds in the mutual fund industry suggests that the benefits of team management might outweigh its costs. However, extant empirical evidence is not consistent with the view that team managed funds generate superior returns relative to individual...