The family business is still widely regarded as an ineffective organizational form (read this, this, or that paper), especially in the US, even though recent evidence challenges this perception. Some studies (see here or here) have shown that during periods of economic growth, family-managed companies in the US actually perform better than professionally managed businesses.
However, a rising tide lifts all boats; it’s the ebbing tide that reveals the truth. Just how do family businesses perform during recessions, when only the strong survive?
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