The relationship between non-family management in family firms and firm performance: A meta-analysis

Abstract

The purpose of this meta-analysis is to empirically quantify the relationship between non-family management and family firm performance and to examine the potential influence of moderating factors on this relationship. Integrating findings from 69 studies and 105 total samples, we find a significant, positive, and weak relationship that is contingent on firm variables including firm size, age, and listing on the stock market as well as methodological variables including research design and measures for both non-family management and family firm performance. Our findings show that non-family management has a stronger performance effect in studies with small, young, and private family firms and in those with panel datasets as opposed to cross-sectional ones. The study contributes to the family firm literature and yields important implications for research and practice.