FAMILY BUSINESSES AND THE RELATIONSHIP BETWEEN BUSINESS AGE AND MANAGEMENT ACTIVITIES, STYLES AND PRACTICES: A FOUR-COUNTRY ANALYSIS

This study investigated family businesses in four countries with regard to a firm’s years in business and the firm’s management characteristics. How do a family business ’ management activities, styles and practices change as the firm ages? Focusing on a variety of family firm management variables identified as important in the family business literature, statistical analyses indicated that company age does not seem to have a significant impact. This empirical and statistical analysis of family businesses does not support much of the earlier and largely conceptual literature, which focused on company life cycles and stages of management. Thus, this study indicates a need for considerable further research with regard to this issue