The Importance of Family Enterprises in Transition Economies

Abstract

Family enterprises are important to many established market economies; however, little empirical research has been conducted to identify the importance and distinctiveness of family enterprises in postsocialist transition economies. Our exploratory study examines how family ownership and management influence the performance and internalization of family businesses in transition economies and estimates their importance for these economies, based on the case of Slovenia as one of the most developed European transition countries. Our proposals and conclusions could be useful for policymakers and family business owners and managers in other transition countries.