Family and non-family firms: an empirical analysis of performance differences

Bachelor thesis International Bachelor Economics and Business Economics Student name: Stef de Vries Student number: 409798 Supervisor: Ms. Maria Cotofan Second assessor: Dr. Josse Delfgaauw Date: July 1st, 2018 There has been extensive research into the differences between family and non-family firms, of which a relevant part into performance differences. This paper empirically analyses the differences in performance between family and non-family firms in mostly Western European economies between 2012 and 2017. I find that both firms that are under control of families and firms with family CEOs outperform non-family firms. A further study into the performance differences in firms with a first-generation family CEO or a family CEO from a later generation did not yield significant results.