Skip to content

Schools

Traditional SearchSelf-Funded SearchIndependent Sponsor

Study

CurriculumLibraryFrameworksToolsEventsAboutPrograms
Join the community

Library/Succession, ownership transfer and family business

B4FT50

Inside the family firm: The role of families in succession decisions and performance

Bennedsen, M., Nielsen, K. M., Pérez-González, F., & Wolfenzon, D. (2007)

Quarterly Journal of Economics, 122(2), 647-691

Danish register data; instruments family CEO succession with the gender of the departing CEO's firstborn. Family successions cause a drop of at least four percentage points in operating return on assets; underperformance is larger in fast-growing industries, skilled-labour industries and larger firms. Professional non-family CEOs "provide extremely valuable services".

Sourcedoi:10.1162/qjec.122.2.647998 citations (OpenAlex)

Full citation

Bennedsen, M., Nielsen, K. M., Pérez-González, F., & Wolfenzon, D. (2007). Inside the family firm: The role of families in succession decisions and performance. Quarterly Journal of Economics, 122(2), 647-691.

https://doi.org/10.1162/qjec.122.2.647

This page describes a work published elsewhere. The summary, where present, states what the authors claim; it is not the school's position. Read the source before quoting a figure.