From Hermes to Smuckers to the fictional Waystar Royco of HBO’s “Succession,” family businesses often choose their CEOs from the ranks of kin. But is this a good business decision? As researchers who study entrepreneurship and management, we wanted to know whether keeping leadership in the family pays off for businesses. So we reviewed 175 studies on the topic to see whether family CEOs really are the best choice for family businesses. We found that the answer is yes—sometimes.
Should family members be in charge of family businesses? We analyzed 175 studies to understand how a family CEO pays off
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