This paper studies how family firms reacted to the 2008 economic crisis in terms of employment adjustment. By using a difference-in-difference approach, we provide empirical evidence that divergent paths of adjustment between family and non-family firms exist, with family firms systematically...

This paper studies how family firms reacted to the 2008 economic crisis by adjusting employment. In particular, we look at how the geographical distribution of the workforce may have led to divergencies between family and non-family firms. Using a difference-in-difference approach, we provide...