We find that the difference between the mean return on assets of all Norwegian family firms and nonfamily firms is 1 ….4 percentage points and positive every year over twenty years. This family firm premium increases when the family as a whole owns a … increases when the family has less personal wealth, less diversified wealth, and less liquid shares. This evidence suggests that …

We investigate the differential effect of time in terms of generation in control of the firm’s management on family … firm performance to address the call in the literature for a more nuanced treatment of family firms and their performance … differences. By drawing on the mixed-gamble logic of the behavioral agency model, our work suggests that the family’s socio …