Do family investors differ from other investors? Similarity, experience, and professionalism in the light of family investee firm challenges

Research output: Journal contributionsJournal articlesResearchpeer-review

Authors

In recent years, a growing number of wealthy families entering the equity
market have been seeking direct investments. But how do these actively investing
families (family investors, henceforth) behave compared to non-family investors
such as private equity (PE) firms? Answering this is particularly interesting from the
investee firms’ perspective of family businesses, as the mindset of family investors
might be more similar to their own. However, studies so far have neglected to
distinguish between different investors in family firms. Thus, this conceptual paper
aims to improve the understanding of family and PE investors and to consider the
conditions and decision criteria under which family firms seek an external investor.
To fulfil this goal, the two investor types are systematically compared, and based on
multiple theoretical perspectives, a model of which investor type would best fit with
family firms and their specific challenges is proposed. Thereby, we argue that the
two investor types might be suitable partners for the investee firms depending on the
challenges they face.
Original languageEnglish
JournalJournal of Business Economics : JBE
Volume88
Issue number2
Pages (from-to)139 - 166
Number of pages28
ISSN0044-2372
DOIs
Publication statusPublished - 01.02.2018

    Research areas

  • Management studies - familiy firms, private equity, family investors, family offices

Press/Media items

Recently viewed

Publications

  1. Energiewende umsetzen - Kommunen in der Pflicht
  2. Unterwachen und Schlafen
  3. Faszinosum Maschine
  4. Nicolai Hartmanns Neue Ontologie und die Philosophische Anthropologie
  5. Wenn alle Kinder gottgeliebte Kunstschaffende sind!?
  6. 8. Uranium-series dating of peat from central and Northern Europe
  7. Satellite Earth Observations and Their Impact on Society and Policy, (eds Masami Onoda & Oran R. Young). 1st ed. Berlin: SpringerOpen. 2017
  8. Homo sapiens reached the higher latitudes of Europe by 45,000 years ago
  9. What can nudging offer to reduce workplace sexual harassment?
  10. Perspektiven der Wirtschaftspolitik
  11. Science with/in/and (?) Society
  12. Diskursanalysen institutioneller Gespräche - das Beispiel von „Focus Groups“
  13. Unexpected formation of hydrides in heavy rare earth containing magnesium alloys
  14. Wiederbesinnung auf Gemeinschaft?
  15. Nachhaltigkeitsberichterstattung der DAX-30 Unternehmen im Internet
  16. Hochschulen im Wandel
  17. Motiv-Tätigkeitskongruenzen in nachberuflicher Arbeitstätigkeit
  18. Structural pattern of a near-natural beech forest (Fagus sylvatica) (Serrahn, North-east Germany)
  19. Magnesium recycling system prepared by permanent mould- and high pressure die casting
  20. Natur und Technik - ein Gegensatz?
  21. Kommentierung von Art. 118 AEUV: Schutz des geistigen Eigentums
  22. Air-sea exchange fluxes of synthetic polycyclic musks in the North Sea and the Arctic
  23. Conservation value of semi-open habitats for ground beetles (Coleoptera: Carabidae, Cicindelidae) in Central Europe
  24. Der Schmerz des Denkens
  25. Influence of laser shock peening on the residual stresses in additively manufactured 316L by Laser Powder Bed Fusion: A combined experimental-numerical study
  26. Entwicklung eines Bildungskonzepts für Nachhaltigkeit für Institutionen des Elementarbereichs
  27. Auf der Speisekarte der DPAG
  28. Macht EMAS einen Unterschied?
  29. Einführung in das Politikfeld Ländliche Entwicklung
  30. Wertorientiertes Controlling
  31. Habitat modelling for the conservation of the rare ground beetle species Carabus variolosus (Coleoptera, Carabidae) in the riparian zones of headwaters
  32. Politikberatung in der Wissensgesellschaft
  33. Determinants and measurement of entrepreneurial self-efficacy among women entrepreneurs
  34. Impacts of alternative land-use policies on water ecosystem services in the Río Grande de Comitán-Lagos de Montebello watershed, Mexico