Family ownership and M&As: A systematic review of the last two decades

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Abstact

Strategic decision-making in family firms tends to prioritize the maintenance of family control and long-term investments relative to short-term opportunities. At the same time, however, family firms usually demonstrate a low appetite for risk. In view of its multifaceted and contradictory value as a means for corporate growth and as a driver of corporate risk, mergers and acquisitions (M&As) have been at the core of multiple scholarly conversations on family firms. This study offers a systematic literature review of the last two decades of academic studies on M&As in the context of family firms.

Keywords: Family Firms, Ownership, Mergers and Acquisitions, Literature Review

JEL Classification: L10, M10

Received: 02.05.2022
Accepted: 06.05.2022

How to cite: Galavotti, I. (2022). Family ownership and M&As: A systematic review of the last two decades. In G. M. Mantovani, A. Kostyuk, & D. Govorun (Eds.), Corporate governance: Theory and practice (pp. 93–98). https://doi.org/10.22495/cgtapp16