SCHOLES, L. ... et al, 2015. Family firm performance: trusts, ownership and governance. Presented at the IFERA 2015 Annual Conference, Hamburg, Germany, 30 June-3 July 2017.
We explore the influence of ownership and governance on financial performance in a sample of 200 UK family firms. This study is the first to explore the governance role of trusts and indicates that the presence of trusts lead to a significant reduction in the growth and profitability of family firms. Trusts therefore deserve much greater research attention in the future.