The present study contends that an inverted U-shaped relationship exists between generational involvement — i.e., the number of family generations simultaneously involved in the family-firm top management team (TMT) — and entrepreneurial orientation (EO). Drawing on the upper echelons...

Prior research has not fully explained whether the relationship between family management and profitability is positive or negative in private family firms. This issue is critical for further theoretical development in the field and holds high practical relevance, given that the appointment or...