Family Businesses in Germany: Significance and Structure

Sabine B. Klein

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Family Business Performance and Succession Corporate Finance and Governance Entrepreneurship Studies and Influences

Abstract

This paper shows the relevance of family businesses to the German economy and their structure with respect to ownership, governance, and management. The data show that ownership, rather than governance or management, is the key to differentiating family from nonfamily businesses. As governance and management are more complementary to each other, families in German family businesses seek influence either through family members on the supervisory board or on the management board. The empirical data from this study is based on a clear definition of family business and a random sample, and it provides the basis for further investigation into German family businesses.

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References

1997Generation to generation: life cycles of the family business 1996Bivalent Attributes of the Family Firm 1996Myths and Realities: Family Businesses' Contribution to the US Economy— A Framework for Assessing Family Business Statistics 1998The Family Business 1995The Family Business: Toward Definitional Clarity 1998The family business : its governance for sustainability 1994Transferring Power in the Family Business

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2003Help One Another, Use One Another: Toward an Anthropology of Family Business 2012The Transaction Cost Economics Theory of the Family Firm: Family–Based Human Asset Specificity and the Bifurcation Bias 2010Boards of Directors in Family Businesses: A Literature Review and Research Agenda 2014The Impact of Family Ownership, Management, and Governance on Innovation 2013Innovation in family and non-family SMEs: an exploratory analysis 2011A Review of Theory in Family Business Research: The Implications for Corporate Governance

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