Haspeslagh, PhilippeLevrau, AbigailGobert, Sandra2019-10-102019-10-1020199789400009974http://hdl.handle.net/20.500.12127/6399In this paper we argue that the outperformance of family listed firms is not a result of the ownership difference per se, but the combination between the characteristics of such ownership, entrepreneurial drive and multi-generational time horizon amongst others, on the one hand and the fiduciary quality of the company's governance context, both at the country level and ultimately at the company level on the other hand.enFamily Listed Firms43769