Financial Performance of Family Firms in Comparison to Regular Firms: A Literature Review.

This article is a literature review of studies that empirically compare the performance of familyowned firms relative to firms owned by diverse shareholders. The debate on whether or not family control is a superior form of governance and what factors are of influence is still vivid in the new millennium. Although the field develops and some trends can be identified, in general scholars are still inconclusive. A focus on underdeveloped areas and an increased devotion to investigate causality might help to advance the field.