s We examine the relation between founding family and corporate investment policy through the incentives of CEO compensation in a structural framework. We focus on two pay sensitivities, delta and vega, which motivate managerial efforts and risk-taking behavior, respectively. We find that vega is lowest and delta is highest in active family firms despite no significant differences in both measu...

This article examines founding family influence on pay-out policies for Swiss listed firms over the period 2003-2010. We find that founding family firms have higher dividends and total pay-outs than non-family firms. There is no significant difference between stock repurchases for the two types of firms. We show that specific firm characteristics such as active involvement of family members, th...

We examine the relationship between the number of bank relationships and firms’ performance, evaluating possible differential effects related to firms’ size. Our sample of firms from Italy includes many small firms, 99 percent of which are not listed and for which bank debt is a major source of financing. In the sample, 4 percent of the firms have a single bank relationship, and 66 percent of t...

This paper empirically documents the performance and behavior of family firms listed on the French stock exchange between 1994 and 2000. On the French stock market, approximately one third of the firms are widely held, while the remaining two thirds are family firms. We find that, in the cross section, family firms largely outperform widely held corporations. This result holds for founder-contr...

This study examines how an entrepreneurial orientation moderates the effect of corporate social responsibility (CSR) on family firm performance. Analysis of 174 family firms was conducted using second-generation, partial least squares structural equation modeling (PLS-SEM) in SmartPLS 3.2.6. A survey of family firms and compliant sustainability reports, made under the rules of the GRI (Global R...

While entrepreneurial families often expand their activity over multiple businesses and patrimonial assets, this complexity is rarely addressed in mainstream family business research, where the predominant focus on or, at best, controlling operational business. We advance a more holistic understanding of that contemplates variety assets they create or acquire time jointly generate financial soc...

family is a widespread social institution that understanding of the early universe and its phenomena through it. it seemed that family and its intrafamily relationships have changed these years and shaped as a new form. iranian cinema by creating stereotypes of relationships, personality and positions have an important role in iranian people mental construction of family and its relations. in t...