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Journal of Economic Perspectives: Vol. 20 No. 2 (Spring 2006)
JEP Volume. 20, Issue 2 | 
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The Role of Family in Family Firms
Article Citation
Bertrand, Marianne, and
Antoinette Schoar. 2006. "The Role of Family in Family Firms."
Journal of Economic Perspectives,
20(2): 73-96.
DOI: 10.1257/jep.20.2.73
DOI: 10.1257/jep.20.2.73
Abstract
History is replete with examples of spectacular ascents of family businesses. Yet there are also numerous accounts of family businesses brought down by bitter feuds among family members, disappointed expectations between generations, and tragic sagas of later generations unable to manage their wealth. A large fraction of businesses throughout the world are organized around families. Why are family firms so prevalent? What are the implications of family control for the governance, financing and overall performance of these businesses?
Article Full-Text Access
Full-text Article (Complimentary)
Authors
Bertrand, Marianne
Schoar, Antoinette
Schoar, Antoinette
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