Family firms and management practices

Margarita Tsoutsoura

Oxford Review of Economic Policy, 2021, vol. 37, issue 2, 323-334

Abstract: 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.

Keywords: family; founder; management practices; implicit contracts (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:oup:oxford:v:37:y:2021:i:2:p:323-334.

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