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Family firms and management practices

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  • Margarita Tsoutsoura

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.

Suggested Citation

  • Margarita Tsoutsoura, 2021. "Family firms and management practices," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 37(2), pages 323-334.
    • Handle: RePEc:oup:oxford:v:37:y:2021:i:2:p:323-334.
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    File URL: http://hdl.handle.net/10.1093/oxrep/grab005
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    Cited by:

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    2. Ivan Miroshnychenko & Giorgio Vocalelli & Alfredo Massis & Stefano Grassi & Francesco Ravazzolo, 2024. "The COVID-19 pandemic and family business performance," Small Business Economics, Springer, vol. 62(1), pages 213-241, January.

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