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kellogg

January 1, 2005

Despite the lack of independent directors on their boards and voting power for minority shareholders, family-run companies are still the better bet for all stakeholders as long as the founder of the firm is involved as chief executive officer or chairman. If the descendent of a founder runs the company, value is lost.

Reprinted with permission from Knowledge@Wharton, the business news and analysis journal of the Wharton School of the University of Pennsylvania. http://knowledge.wharton.upenn.edu

Despite the lack of independent directors on their boards and voting power for minority shareholders, family-run companies are still the better bet for all stakeholders as long as the founder of the firm is involved as chief executive officer or chairman. If the descendent of a founder runs the company, value is lost.
 

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