Call for Papers - CORPORATE GOVERNANCE IN FAMILY BUSINESSES

Family Businesses drive global economic growth and employment. The Global Family Business Index, published by Forbes.com with the support of St. Gallen University and EY, highlights the important role that the top 500 family businesses play in the world economy. For instance, in 2013 these 500 large family businesses employed 21 million people – more than 66% of their non-family business counterparts, and contributed US$6.5t to global GDP. They also represent 33% of US and 40% of German and French companies, with an even more relevant role in emerging markets, comprising 55% of large companies in India and Southeast Asia, and 60% of Latin America’s GDP. In Emerging Markets, family businesses account for more than 50% of the largest companies, with growth rates that are larger than their non-family business counterparts, even though it comes at the expense of lower profitability, with regulations, institutions and cultural issues playing important roles. Conflicts of interest between family members at the transition stage, or even between owners and managers, are some of the challenges faced by this type of organization. And, given the fact that 40% of family firms do not have a succession plan, and only 12% of these enterprises survive after the third generation, a special issue on Corporate Governance in Family Businesses is a relevant research opportunity for academics in different fields of research in Administration.