In this article, literature on family offices (FOs) is systematically reviewed to examine how academic research in this field has advanced and to assess the relevance of FOs within family businesses. The main function of an FO is to preserve a family's wealth in the long-term, as well as to...

This study aims to examine how noneconomic goals, specifically those related to socioemotional wealth (SEW), influence the process of selecting strategic partners for collaborative innovation (CI) in family firms. In doing so, it contributes to the literature with a nuanced process view from the...

The global economy is significantly influenced by family firms, which play a crucial role in shaping and sustaining the so-called real economy. Many flourish in the brewing sector, particularly in the area of craft and microbrewery. Such family firms often have strong community ties,...

Leadership plays a central role in the long-term sustainability of family enterprises, yet existing evidence is fragmented across contexts and methodologies. This systematic review synthesizes empirical findings on leadership practices that support sustainable family entrepreneurship. The...

This study investigates whether Corporate Social Responsibility Disclosure (CSRD) serves as a risk-mitigating or cost-inducing signal for firms' market value in an emerging market. Utilising a panel dataset of 120 companies listed on the Tehran Stock Exchange (2015-2023) and employing content...

This study investigates family control and ESG disclosure in the GCC. We challenge Western agency assumptions by examining how internal governance and firm maturity condition this link, testing the Socioemotional Wealth (SEW) model in a patriarchal context.We utilize a balanced panel of listed...

Die vorliegende Studie untersucht erstmals systematisch die Stimmung von Familienunternehmen in Deutschland, Frankreich, Italien und Spanien. Auf Basis von rund 2000 Interviews mit Führungskräften zeigt sich: 67% der Familienunternehmen blicken langfristig moderat optimistisch in die Zukunft,...

Using unique administrative data that link privately held firm owners to rich background information, we provide novel evidence on underage children as firm owners. Ownership occurs at all ages 0--17, with a mean age of 12. Childhood ownership is strongly concentrated among high-income families,...

Most firms aspire to longevity, yet only a minority survive more than their initial years. Unsurprisingly, then, business survival has long attracted the interest of many academics. The various factors thought to influence business longevity have generated multiple studies on ownership status,...

This study investigates the role of family involvement and succession planning in shaping the long-term sustainability of family businesses in Indonesia, with a specific focus on the mediating effect of transgenerational entrepreneurial orientation (TEO). This research responds to calls for...

Trotz zunehmendem Interesse an Familienunternehmen ist das Verständnis von Führungs- und Organisationspraktiken, die sich aus dem Zusammenspiel von Familie und Unternehmen ergeben, bislang begrenzt – insbesondere mit Blick auf Dezentralisierung. Mit dem Wandel der Arbeitswelt haben einige...

Die vorliegende Studie untersucht erstmals systematisch die Stimmung von Familienunternehmen in Deutschland, Frankreich, Italien und Spanien. Auf Basis von rund 2 000 Interviews mit Führungskräften zeigt sich: 67% der Familienunternehmen blicken langfristig moderat optimistisch in die Zukunft,...

A growing interest in digitalisation provides continuous support for corporate governance in addressing strategic decision-making under uncertain environments. Although an increasing number of studies provide valuable insights and practical implications, limited research examines specific CEO...

This study aims to examine whether family firms differ from nonfamily firms in their propensity to save cash, particularly in response to new investment opportunities, and to assess how investors value the cash holdings of family versus nonfamily firms in light of potential agency concerns. The...

This study analyzes the effects of country-level shareholder protection and agency costs on the cash-holding policies of family firms.Data were collected for 2,159 European firms for the period 2010-2019. The authors estimate the model using the generalized method of moments.Agency costs are...

Dieser Leitfaden soll Politiker und Legisten anhand von konkreten Beispielen darüber informieren, was die wichtigsten Instrumente der Entbürokratisierung sind, was sie bedeuten, in welchen Fällen Bürokratie unnötig ist und welche Lösungsmöglichkeiten es gibt. Der Leitfaden bildet...

Familienunternehmen, insbesondere im Hotel- und Gastgewerbe, stehen aus unterschiedlichen Gründen vor Herausforderungen in Bezug auf die Unternehmensnachfolge - oft bedingt durch eine fehlende oder unzureichend qualifizierte familieninterne Nachfolge. Ziel dieser Veröffentlichung ist die...

Purpose This study empirically assesses the effects of two key types of organizational and managerial capabilities-dynamic capabilities, and coordination and cohesion capabilities-on environmental performance, considering the moderating effect of family ownership. By applying the tenets of the...

This paper investigates the role of family firms in the fall of the labor share and rise in corporate saving in Germany from 1993 to 2019. Combining a new Family Ownership and Governance (FOG) database with financial data, we analyze 929 publicly listed firms. Our findings show that firm-level...

This paper investigates the role of family firms in the fall of the labor share and rise in corporate saving in Germany from 1993 to 2019. Combining a new Family Ownership and Governance (FOG) database with financial data, we analyze 929 publicly listed firms. Our findings show that firm-level...

Der Länderindex Familienunternehmen 2024 vergleicht zum zehnten Mal seit 2006 die Standortbedingungen für Familienunternehmen in den wichtigsten Industrieländern. Konzeptionell orientiert sich der Standortvergleich an den Faktoren, die für die Geschäftsmodelle großer Familienunternehmen...

This study examines the performance of family businesses through the theoretical lenses of dynamic capabilities and socioemotional wealth. A conceptual model is proposed, in which socioemotional wealth moderates the relationship between dynamic capabilities and family firm performance. The...

FamData is a database covering family businesses and non-family businesses across various size classes and branches containing structural and financial information. The ifo institute assembled a business panel with executives from almost 4000 companies. In addition to the "hard" business data...

Sons succeed their exiting CEO parents more often than daughters. How do entrepreneurial families reach this gender imbalance, and how does it affect the prospects of their firms and their offspring? Using Finnish administrative data on firms linked to population register data on shareholders...

Although the Middle East is often perceived as politically, economically, and socially unstable, Saudi Arabia offers a different narrative. Inspired by the country's vision (Vision 2030) and the growing body of research exploring its socio-economic transformation, this article examines how...

Sons succeed their exiting CEO parents more often than daughters. How do entrepreneurial families reach this gender imbalance, and how does it affect the prospects of their firms and their offspring? Using Finnish administrative data on firms linked to population register data on shareholders...

Women entrepreneurs in the Middle Eastern region, particularly in the United Arab Emirates (UAE), face several challenges (e.g., cultural) coupled with the recent transformation of the digital economy. This issue poses a significant challenge for financing the business operations. Thus, this...

This paper investigates the firm-level determinants of debt policy in private family SMEs. It employs a comparative analysis of two sub-samples of family and non-family SMEs using panel data from 200 Moroccan SMEs over the period from 2018 to 2022. The findings reveal that family SMEs adopt a...

The aim of the article is to propose a unification of the generalized Marshall-Olkin (GMO) and Poisson-G (P-G) distributions into a new family of distributions. The density and survival function are expressed as infinite mixtures of an exponentiated-P-G family. The quantile function, asymptotes,...

This study examines family control's direct and indirect impacts (mediated by opacity) on crash risk in East Asian firms. We hypothesize that family control can mitigate agency problems of bad news hoarding due to increasing firm opaqueness. We chose six East Asia countries as the research...

Economic inequality remains a persistent and widely studied issue in the social sciences. South Korea provides a striking example where the top 23 business groups, controlled by ultra-wealthy, family-owned conglomerates (chaebols), have maintained significant economic persistence and resisted...

Employment stability is crucial to social harmony and individual well-being. This study empirically analyzes whether the succession plan adopted by a family business can achieve the goal of stable employment and explores potential mechanisms at the individual level of entrepreneurs. This paper...

Family-owned firms account for majority of small and medium-sized enterprises (SMEs) in Arab countries, but evidence on the impact of this ownership type on access to credit in the region is scarce. Yet the issue is key for understanding barriers to the emergence of dynamic private sector and...

Entrepreneurial self-efficacy holds significant importance due to its broad influence, benefiting not just entrepreneurs but also extending its impact to other domains. This is why it is so important to have an understanding of the factors that are at its core. Our primary aim is to investigate...