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What is Different About Family Businesses?

Family businesses make up forty percent of the Fortune 500 companies in the US, generate about two-thirds of the German GDP, employ about one-half of the labor force in Britain, and account for the majority of the private economies in developing countries. This paper develops a theory of family busi...

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Bibliographic Details
Main Author: Chami, Ralph
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2001
Series:IMF Working Papers
Subjects:
Income
Finance
Labour; Income Economics
Financial Sector Policy And Analysis
Financial Institutions
Wages, Compensation, And Labor Costs: General
General Financial Markets: Government Policy And Regulation
Competition
Aggregate Factor Income Distribution
General Financial Markets: General (includes Measurement And Data)
Asymmetric And Private Information
National Accounts
Labor
Financial Markets
Financial Risk Management
Macroeconomics
Moral Hazard
Wages
Actuarial Studies
Altruism
Finance: General
Insurance Companies
Insurance
Insurance & Actuarial Studies
United States
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:Family businesses make up forty percent of the Fortune 500 companies in the US, generate about two-thirds of the German GDP, employ about one-half of the labor force in Britain, and account for the majority of the private economies in developing countries. This paper develops a theory of family business that brings market forces and the family, as a nonmarket institution, under one rubric. The paper highlights and analyzes important factors, including product market competition, trust, and succession, which allow family businesses to thrive and to successfully compete with other businesses
Physical Description:37 pages
ISBN:9781451849158

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