Abstract
The purpose of this meta-analysis is to empirically quantify the relationship between family firm professionalization and performance and to examine the potential influence of moderating factors on this relationship. Integrating the findings from 69 studies and 105 total samples, we find a significant, positive, and weak relationship that is contingent on firm variables including firm size, age, and listing on the stock market as well as methodological variables including research design and measures for professionalization and firm performance. Our findings show that professionalization has a stronger performance effect in studies with small, young, and private family firms and in those with panel datasets as opposed to cross sectional ones. The study contributes to the family firm literature and yields critical implications for research and practice.
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