However, traditional studies on family business firms
usually emphasize the setbacks of family ownership
and control, and propose a negative impact of
founding-family ownership on firm performance.
This argument is supported by some empirical studies
that report a negative association between foundingfamily
ownership and firm performance (Claessens
et al. 2002; Lauterbach and Vaninsky 1999; Thomsen
and Pedersen 2000).