||About the Author|Sumon Bhaumik is Professor of Finance at University of Sheffield Management School, University of Sheffield, UK. | |Ralitza Dimova is Senior Lecturer of Development Economics at the University of Manchester, UK.|
Family firms account for a large proportion of firms in most countries. In industrialised countries of North America and Western Europe, they generally account for a large share of small and medium sized enterprises. In emerging market economies such as India, they also account for the majority of the large firms. Their importance for factors such as employment creation notwithstanding, relative to the widely held Anglo-Saxon firms, which are ubiquitous in the economics...
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