The accounting performance of listed family firms vs. non-family firms: a systematic review of empirical studies

Noora Heino, Pasi Tuominen and Terhi Tuominen

International Journal of Entrepreneurial Venturing, 2019, vol. 11, issue 2, 103-141

Abstract: During the past couple of decades, scholars have identified a group of exchange-listed firms that seem to differ from others when it comes to performance: dominantly family-owned firms. However, the factors explaining performance differentials between family-dominated and other listed firms are still quite unclear. In this study, we conduct a systematic review of the empirical research on the accounting performance of listed family firms vs. non-family firms in order to map existing knowledge on the subject. Our review shows that many of the explanations given to performance differentials are assumptions, hypotheses and speculation, while in-depth understanding is lacking mainly due to methodological deficiencies. With this study, we provide new research gaps and avenues for further research in order to encourage more discussion on the topic.

Keywords: listed firm; public company; exhcange-listed company; listed company; firm performance; accounting performance; family firm; family business; ownership; management; systematic review. (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (2)

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