References:

Adams, R., Almeida, H., Ferreira, D. (2009) Understanding the relationship between founder–CEOs and firm performance. Journal of Empirical Finance 16: 136–150.

Aguilera, R. V., Jackson, G. (2003) The cross-national diversity of corporate governance: Dimensions and determinants. Academy of Management Review 28: 447–465.

Amihud, Y., Lev, B. (1981) Risk reduction as a managerial motive for conglomerate mergers. Bell Journal of Economics 12: 605–617.

Anderson, R. C., Duru, A., Reeb, D. M. (2009) Founders, heirs, and corporate opacity in the United States. Journal of Financial Economics 92: 205–222.

Anderson, R. C., Reeb, D. M. (2003a) Founding family ownership and firm performance: Evidence from the S&P 500. Journal of Finance 58: 1301–1328.

Anderson, R. C., Reeb, D. M. (2003b) Founding family ownership, corporate diversification, and firm leverage. Journal of Law and Economics 46: 653–684.

Anderson, R. C., Reeb, D. M. (2004) Board composition: Balancing family influence in S&P 500 firms. Administrative Science Quarterly 49: 209–237.

Andrews, A. O., Welbourne, T. M. (2000) The people/performance balance in IPO firms: The effect of the Chief Executive Officer’s financial orientation. Entrepreneurship Theory and Practice 25: 93–106.

Aronoff, C. E. (1998) Megatrends in family business. Family Business Review 11: 181–185.

Arthurs, J. D., Busenitz, L. W. (2003) The boundaries and limitations of agency theory and stewardship theory in the venture capitalist/entrepreneur relationship. Entrepreneurship Theory and Practice 28: 145–162.

Barkema, H. G., Penning, J. M. (1998) Top management pay: Impact of overt and covert power. Organization Studies 19: 975–1003.

Bascle, G. (2008) Controlling for endogeneity with instrumental variables in strategic management research. Strategic Organization 6: 285–327.

Basu, N., Dimitrova, L., Paeglis, I. (2009) Family control and dilution in mergers. Journal of Banking and Finance 33: 829–841.

Beggan, J. K. (1991) Using what you own to get what you need: The role of possessions in satisfying control motivation. Journal of Social Behavior and Personality 6: 129–146.

Berger, P. G., Ofek, E., Yermack, D. L. (1997) Managerial entrenchment and capital structure decisions. Journal of Finance 52: 1411–1438.

Berle, A. A., Means, G. C. (1932) The modern corporation and private property, New York: Macmillan.

Bhojraj, S., Lee, C., Oler, D. K. (2003) What’s my line? A comparison of industry classification schemes for capital market research. Journal of Accounting Research 41: 745–774.

Boeker, W., Karichalil, R. (2002) Entrepreneurial transitions: Factors influencing founder departure. Academy of Management Journal 45: 818–826.

Bowen, H. P. (2012) Testing moderating hypotheses in limited dependent variable and other nonlinear models secondary versus total interactions. Journal of Management 38: 860–889.

Bruton, G., Filatotchev, I., Chahine, S., Wright, M. (2010) Governance, ownership structure and performance of IPO firms: The impact of different types of private equity investors and institutional environments. Strategic Management Journal 31: 491–509.

Certo, S. T., Daily, C. M., Cannella, A. A., Dalton, D. R. (2003) Giving money to get money: How CEO stock options and CEO equity enhance IPO valuations. Academy of Management Journal 46: 643–653.

Certo, S. T., Covin, J. G., Daily, C. M., Dalton, D. R. (2001) Wealth and the effects of founder management among IPO-stage new ventures. Strategic Management Journal 22: 641–658.

Chahine, S., Filatotchev, I., Zahra, S. A. (2011) Building perceived quality of founder‐involved IPO firms: Founders effects on board selection and stock market performance. Entrepreneurship Theory and Practice 35: 319–335.

Chen, K. C., Chen, Z., Wei, K. J. (2009) Legal protection of investors, corporate governance, and the cost of equity capital. Journal of Corporate Finance 15: 273–289.

Corbetta, G., Salvato, C. (2004) Self-serving of self-actualizing? Models of man and agency costs in different types of family firms: A commentary on comparing the agency costs of family and non-family firms: Conceptual issues and exploratory evidence. Entrepreneurship Theory and Practice 28: 355–362.

Dalton, D. R., Daily, C. M., Certo, S. T., Roengpitya, R. (2003) Meta-analyses of financial performance and equity: Fusion or confusion? Academy of Management Journal 46: 13–26.

Dalton, D. R., Hitt, M. A., Certo, S. T., Dalton, C. M. (2007) The fundamental agency problem and its mitigation: Independence, equity, and the market for corporate control. Academy of Management Annals 1: 1–64.

Davis, J. H., Schoorman, F. D., Donaldson, L. (1997) Toward a stewardship theory of management. Academy of Management Review 22: 20–47.

Demsetz, H. (1983) The structure of ownership and the theory of the firm. Journal of Law and Economics 26: 375–390.

Demsetz, H. (1986) Corporate control, insider trading, and rates of return. The American Economic Review 76: 313–316.

Demsetz, H., Lehn, K. (1985) The structure of corporate ownership: Causes and consequences. Journal of Political Economy 93: 1155–1177.

Denis, D. J., Denis, D. K., Sarin, A. (1997) Agency problems, equity ownership, and corporate diversification. Journal of Finance 52: 135–160.

Durnev, A., Kim, E. H. (2005) To steal or not to steal: Firm attributes, legal environment, and valuation. Journal of Finance 60: 1461–1493.

Elsayed, K. (2007) Does CEO duality really affect corporate performance? Corporate Governance: An International Review 15: 1203–1214.

Evans, D. S. (1987) Reviewed tests of alternative theories of firm growth. Journal of Political Economy 95: 657–674.

Faccio, M., Lang, L. H. P., Young, L. (2001) Dividends and expropriation. American Economic Review 91: 54–78.

Fahlenbrach, R. (2009) Founder–CEOs, investment decisions, and stock market performance. Journal of Financial and Quantitative Analysis 44: 439–466.

Fama, E. F. (1980) Agency problems and the theory of the firm. Journal of Political Economy 88: 288–307.

Fama, E. F., French, K. R. (1997) Industry costs of equity. Journal of Financial Economics 43: 153–193.

Fama, E. F., French, K. R. (1998) Taxes, financing decisions, and firm value. Journal of Finance 53: 819–843.

Fama, E. F., Jensen, M. (1983) The separation of ownership and control. Journal of Law and Economics 26: 301–325.

Fan, J. P., Wong, T. J. (2002) Corporate ownership structure and the informativeness of accounting earnings in East Asia. Journal of Accounting and Economics 33: 401–425.

Filatotchev, I., Wright, M., Arberk, M. (2006) Venture capitalists, syndication and governance in initial public offerings. Small Business Economics 26: 327–350.

Formanek, R. (1991) Why they collect: Collectors reveal their motivations. Journal of Social Behavior and Personality 6: 275–286.

Gomez-Mejia, L., Nunez-Nickel, M., Gutierrez, I. (2001) The role of family ties in agency contracts. Academy of Management Journal 44: 81–95.

Gompers, P. A., Ishii, J., Metrick, A. (2010) Extreme governance: An analysis of dual class firms in the United States. Review of Financial Studies 23: 1051–1088.

Heckman, J. (1979) Sample selection as a specification error. Econometrica 47: 153–161.

Holderness, C., Sheehan, D. (1988) The role of majority shareholders in publicly held corporations: An exploratory analysis. Journal of Financial Economics 20: 317–346.

Hoskisson, R. E., Hitt, M. A., Johnson, R. A., Grossman, W. (2002) Conflicting voices: The effects of institutional ownership heterogeneity and internal governance on corporate innovation strategies. Academy of Management Journal 45: 697–716.

Jain, B. A., Tabak, F. (2008) Factors influencing the choice between founder versus non-founder CEOs for IPO firms. Journal of Business Venturing 23: 21–45.

Jayaraman, N., Khorana, A., Nelling, E., Covin, J. (2000) CEO founder status and firm financial performance. Strategic Management Journal 21: 1215–1224.

Jensen, M. C. (1986) Agency costs of free cash flow, corporate finance, and takeovers. The American Economic Review 76: 323–339.

Jensen, M. C., Meckling, W. (1976) Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics 3: 305–360.

Johnson, S., La Porta, R., Lopez de Silanes, F., Shleifer, A. (2000) Tunneling. American Economic Review 90: 22–27.

Johnson, B., Magee, R., Nagarajan, N., Newman, H. (1985) An analysis of the stock price reaction to sudden executive deaths: Implications for the management labor market. Journal of Accounting and Economics 7: 151–174.

Kor, Y. Y., Mahoney, J. T. (2000) Penrose’s resource-based approach: The process and product of research creativity. Journal of Management Studies 37: 109–139.

Lane, P. J., Cannella, A. A., Lubatkin, M. H. (1998) Agency problems as antecedents to unrelated mergers and diversification: Amihud and Lev reconsidered. Strategic Management Journal 19: 555–578.

La Porta, R., Lopez-De-Silanes, F., Shleifer, A. (1999) Corporate ownership around the world. Journal of Finance 54: 471–518.

La Porta, R., Lopez-de-Silanes, F., Shleifer, A., Vishny, R. W. (2000) Agency problems and dividend policies around the world. Journal of Finance 55: 1–33.

Larraza-Kintana, M., Wiseman, R. M., Gomez-Mejia, L. R., Welbourne, T. M. (2007) Disentangling compensation and employment risks using the behavioral agency model. Strategic Management Journal 28: 1001–1019.

Lau, D. C., Murnighan, J. K. (1998) Demographic diversity and faultlines: The compositional dynamics of organizational groups. Academy of Management Review 23: 325–340.

Le Breton-Miller, L., Miller, D. (2009) Agency vs. stewardship in public family firms: A social embeddedness reconciliation. Entrepreneurship Theory and Practice 33: 1169–1191.

Lechler, T. (2001) Social interaction: A determinant of entrepreneurial team venture success. Small Business Economics 16: 263–278.

Lewis, M., Brook, J. (1974) Self, other, and fear: Infants reactions to people. In: Lewis, M., Rossenblum, L. S. (eds) The origins of fear, New York, NY: Wiley, pp. 165–194.

Li, K., Prabhala, N. (2007) Self-selection models in corporate finance. In: Espen Eckbo, B. (ed.) Handbook of corporate finance: Empirical corporate finance, Amsterdam: Elsevier.

Litwinski, L. (1947) The psychology of “mine”. Philosophy 22: 240–251.

Manjon-Antolin, M. C., Arauzo-Carod, J. M. (2008) Firm survival: Methods and evidence. Empirica 35: 1–24.

McConnell, J. J., Servaes, H. (1990) Additional evidence on equity ownership and corporate value. Journal of Financial Economics 27: 595–612.

Miller, D., Le Breton-Miller, I., Lester, R. H., Cannella, A. A. (2007) Are family firms really superior performers? Journal of Corporate Finance 13: 829–858.

Morck, R., Yeung, B. (2003) Agency problems in large family business groups. Entrepreneurship Theory and Practice 27: 367–382.

Morck, R. K., Shleifer, A., Vishny, R. (1988) Management ownership and market valuation: An empirical analysis. Journal of Financial Economics 20: 293–315.

Napier, R., Gershenfeld, M. (1993) Groups, theory and experience, Boston, MA: Houghton Mifflin.

Nelson, T. (2003) The persistence of founder influence: Management, ownership, and performance effects at initial public offering. Strategic Management Journal 24: 707–724.

Oswald, S. L., Jahera, J. S. Jr. (1991) The influence of ownership on performance: An empirical study. Strategic Management Journal 12: 321–326.

Pierce, J. L., Kostova, T., Dirks, K. T. (2001) Toward a theory of psychological ownership in organizations. Academy of Management Review 26: 298–310.

Pierce, J. L., Kostova, T., Dirks, K. T. (2003) The state of psychological ownership: Integrating and extending a century of research. Review of General Psychology 7: 84–107.

Ritter, J. (1984) The hot issue market of 1980. Journal of Business 57: 215–241.

Romanelli, E. (1989) Environments and strategies of organization start-up: Effects on early survival. Administrative Science Quarterly 34: 369–387.

Salas, J. M. (2010) Entrenchment, governance, and the stock price reaction to sudden executive deaths. Journal of Banking and Finance 34: 656–666.

Sanders, W. G., Carpenter, M. A. (2003) Strategic satisficing? A behavioral-agency theory perspective on stock repurchase program announcements. Academy of Management Journal 46: 160–178.

Sharma, P. (2004) An overview of the field of family business studies: Current status and directions for the future. Family Business Review 17: 1–36.

Short, H., Keasey, K. (1999) Managerial ownership and the performance of firms: Evidence from the UK. Journal of Corporate Finance 5: 79–101.

Slovin, M. B., Sushka, M. E. (1993) Ownership concentration, corporate control activity, and firm value: Evidence from the death of inside blockholders. Journal of Finance 48: 1293–1321.

Stock, J., Yogo, M. (2005) Testing for weak instruments in IV regressions. In: Andrews, D., Stock, J. (eds) Identification and inference for econometrics models: Essays in honor of Thomas Rothenberg, Cambridge, UK: Cambridge University Press, pp. 80–108.

Stulz, R. (1988) Managerial control of voting rights: Financing policies and the market for corporate control. Journal of Financial Economics 20: 25–54.

Thomsen, S., Pedersen, T. (2000) Ownership structure and economic performance in the largest European companies. Strategic Management Journal 21: 689–705.

van Essen, M., Carney, M., Gedajlovic, E. R., Heugens, P. P. M. A. R. (2015) How does family control influence firm strategy and performance? A meta-analysis of US publicly listed firms. Corporate Governance: An International Review 23: 3–24.

Villalonga, B. (2004) Does diversification cause the “diversification discount”? Financial Management 33: 5–27.

Villalonga, B., Amit, R. (2006) How do family ownership, control, and management affect firm value? Journal of Financial Economics 80: 385–417.

Villalonga, B., Amit, R. (2009) How are US family firms controlled? Review of Financial Studies 22: 3047–3091.

Walters, B. A., Kroll, M., Wright, P. (2010) The impact of TMT board member control and environment on post-IPO performance. Academy of Management Journal 53: 572–595.

Wasserman, N. (2006) Stewards, agents, and the founder discount: Executive compensation in new ventures. Academy of Management Journal 49: 960–976.

Welbourne, T. M., Andrews, A. O. (1996) Predicting the performance of initial public offerings: Should human resource management be in the equation? Academy of Management Journal 39: 891–919.

Young, M. N., Peng, M. W., Ahlstrom, D., Bruton, G. D., Jiang, Y. (2008) Corporate governance in emerging economies: A review of the principal–principal perspective. Journal of Management Studies 45: 196–220.

Zelner, B. A. (2009) Using simulation to interpret results from logit, probit, and other nonlinear models. Strategic Management Journal 30: 1335–1348.

Zwiebel, J. (1995) Block investment and partial benefits of corporate control. Review of Economic Studies 62: 161–185.