Family business growth around the world

Miroshnychenko, Ivan and De Massis, Alfredo and Miller, D and Barontini, R (2021) Family business growth around the world. Entrepreneurship Theory and Practice, 45 (4). pp. 682-708. ISSN 1042-2587

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Growth is important for the long-term success of a business. Regrettably, the impact of family influence on firm growth is largely neglected. We examine whether family firms have a higher growth rate than their nonfamily counterparts. Based on a large sample of firms across 43 countries over a 10-year period, we show that family firms on average have higher growth rates than nonfamily firms, and this positive effect is greater for family firms operating in strong national institutional environments which are less corrupt, more democratic, more subject to rule of law, and have effective government policies. We also find that the positive effect of family influence on firm growth varies significantly across different types of family firms and different business cycles. These findings show that family control has an economically significant impact on growth rates and important implications for both family firm theory and practice.

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Journal Article
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Entrepreneurship Theory and Practice
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The final, definitive version of this article has been published in the Journal, Entrepreneurship Theory and Practice, 45 (4), 2021, © SAGE Publications Ltd, 2021 by SAGE Publications Ltd at the Entrepreneurship Theory and Practice page: on SAGE Journals Online:
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25 Mar 2020 16:30
Last Modified:
14 Oct 2023 00:42