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Family Firms and Management Practices

This article reviews the existing literature about management practices in family firms, the most prevalent form of corporate ownership around the world. I summarize the existing evidence that shows family firms are less likely to adopt structured management practices, especially ‘dynastic’ family firms that combine family ownership and control. I discuss what might be the unique features of family firms that drive the lower adoption of management practices, despite the evidence that improving management boosts their productivity and performance.

01. June 2021

Authors Margarita Tsoutsoura

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Professor Margarita Tsoutsoura, PhD
Economist

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