Founding families are also likely to resist recruiting
outside professional managers by supplying executive
positions with beloved family members regardless of
their expertise and talent to contribute to firm performance
(Kets de Vries 1993). Such a restricted labor
pool potentially leads to competitive disadvantages
relative to nonfamily firms (Anderson and Reeb 2003)
and may adversely affect employee effort and productivity
(Burkart et al. 1997).