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The Confidence Myth: How Women Leaders can Break Free from Gendered Perceptions
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Article
Family involvement and firm performance: A worldwide study unveiling key mechanisms

Prior literature establishes a link between family involvement and the firm financial performance. However, the mechanisms through which family involvement in a firm affects its financial performance in different institutional settings are largely unknown. Using an unbalanced panel of 3,322 listed firms from 32 countries over a 9-year period, we…

Family Business
Family Business Review – Amongst top cited articles
By Ivan Miroshnychenko, Rui Torres de Oliveira, Alfredo De Massis and Ruth Überbacher
in Family Business Review
October 2024, vol. 37, no. 4, https://doi.org/10.1177/08944865241290856
Family involvement and firm performance: A worldwide study unveiling key mechanisms
By Ivan Miroshnychenko Rui Torres de Oliveira Alfredo De Massis and Ruth Überbacher
in Family Business Review October 2024, vol. 37, no. 4, https://doi.org/10.1177/08944865241290856
Summary
Prior literature establishes a link between family involvement and the firm financial performance. However, the mechanisms through which family involvement in a firm affects its financial performance in different institutional settings are largely unknown. Using an unbalanced panel of 3,322 listed firms from 32 countries over a 9-year period, we…
Family Business Review – Amongst top cited articles
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Article
Innovation through tradition: Lessons from innovative family businesses and directions for future research
Family Business
Academy of Management Perspectives Decade Award 2026 – Winner
By Alfredo De Massis, Federico Frattini, Josip Kotlar, Antonio Messeni Petruzzelli and Mike Wright
in Academy of Management Perspectives
February 2016, vol. 30, no. 1, pp. 93-116, https://doi.org/10.5465/amp.2015.0017
Innovation through tradition: Lessons from innovative family businesses and directions for future research
By Alfredo De Massis Federico Frattini Josip Kotlar Antonio Messeni Petruzzelli and Mike Wright
in Academy of Management Perspectives February 2016, vol. 30, no. 1, pp. 93-116, https://doi.org/10.5465/amp.2015.0017
Academy of Management Perspectives Decade Award 2026 – Winner
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Academic publications
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Article
Commons without borders: How entrepreneurs can engage local actors into collective action for the governance of supra-local common-pool resources

Based on 41 interviews across three UK-based commons enterprises, this study addresses one of the most pressing challenges of our time: encouraging local actors to contribute to the sustainable governance of supra-local common-pool resources (CPRs)—shared resources whose use and impacts extend beyond community boundaries. While existing research…

Entrepreneurship Social Innovation
By Coline Serres, Christina Hertel and Sophie Bacq
in Journal of Business Venturing
23 September 2026, ePub before print, https://doi.org/10.1016/j.jbusvent.2026.106652
Commons without borders: How entrepreneurs can engage local actors into collective action for the governance of supra-local common-pool resources
By Coline Serres Christina Hertel and Sophie Bacq
in Journal of Business Venturing 23 September 2026, ePub before print, https://doi.org/10.1016/j.jbusvent.2026.106652
Summary
Based on 41 interviews across three UK-based commons enterprises, this study addresses one of the most pressing challenges of our time: encouraging local actors to contribute to the sustainable governance of supra-local common-pool resources (CPRs)—shared resources whose use and impacts extend beyond community boundaries. While existing research…
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Article
The reset premium: Option value under asymmetric price commitment

We show that a one-sided price-adjustment rule, with free price cuts but a fixed daily reset for price increases, raises the reset price even under risk neutrality, mean-zero wholesale cost shocks, and perfect consumer information. The mechanism is option-theoretic: a higher reset price preserves pass-through in adverse cost states, while favora…

Economics
By Harry J. Paarsch and Karl Schmedders
in Economic Letters
September 2026, vol. 268, 113146, https://doi.org/10.1016/j.econlet.2026.113146
The reset premium: Option value under asymmetric price commitment
By Harry J. Paarsch and Karl Schmedders
in Economic Letters September 2026, vol. 268, 113146, https://doi.org/10.1016/j.econlet.2026.113146
Summary
We show that a one-sided price-adjustment rule, with free price cuts but a fixed daily reset for price increases, raises the reset price even under risk neutrality, mean-zero wholesale cost shocks, and perfect consumer information. The mechanism is option-theoretic: a higher reset price preserves pass-through in adverse cost states, while favora…
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Article
The tragedy of the horizon: A contracting account

The “tragedy of the horizon” captures the gap between long-horizon climate damages and the shorter horizons of corporate decision-making. We provide a contracting account of this idea using a deliberately standard CARA-normal moral-hazard model. Under full commitment, the optimal linear contract can condition on long-horizon outcomes; horizon mi…

Finance Economics
By Christos Cabolis and Karl Schmedders
in Economic Letters
September 2026, vol. 268, 113154, https://doi.org/10.1016/j.econlet.2026.113154
The tragedy of the horizon: A contracting account
By Christos Cabolis and Karl Schmedders
in Economic Letters September 2026, vol. 268, 113154, https://doi.org/10.1016/j.econlet.2026.113154
Summary
The “tragedy of the horizon” captures the gap between long-horizon climate damages and the shorter horizons of corporate decision-making. We provide a contracting account of this idea using a deliberately standard CARA-normal moral-hazard model. Under full commitment, the optimal linear contract can condition on long-horizon outcomes; horizon mi…
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Article
Counterfactual indeterminacy bias in family firm research

Ever since scholars recognized that family firms are heterogeneous, many studies have attempted to compare different types of family firms without ensuring that the source of heterogeneity is unique to family firms. When the source of heterogeneity among family firms resembles the source of heterogeneity among nonfamily firms, the problem of cou…

Family Business
By Hanqing Fang, James J. Chrisman and Alfredo De Massis
in Family Business Review
September 2026, vol. 39, no. 3, https://doi.org/10.1177/08944865261454405
Counterfactual indeterminacy bias in family firm research
By Hanqing Fang James J. Chrisman and Alfredo De Massis
in Family Business Review September 2026, vol. 39, no. 3, https://doi.org/10.1177/08944865261454405
Summary
Ever since scholars recognized that family firms are heterogeneous, many studies have attempted to compare different types of family firms without ensuring that the source of heterogeneity is unique to family firms. When the source of heterogeneity among family firms resembles the source of heterogeneity among nonfamily firms, the problem of cou…
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Article
Compassion and passion: Exploring beneficiary wealth destruction in social entrepreneurship

Most research on social entrepreneurship highlights the positive effect of compassion on creating wealth for beneficiaries. However, while compassion drives social entrepreneurs to take prosocial actions that benefit others, the actions it motivates can also be destructive due to the complex, interdependent nature of social issues. This paper ex…

Social Innovation
By Anne Sophie Sabbatucci, Sophie Bacq and Frank Janssen
in Journal of Business Venturing
September 2026, vol. 41, no. 5, 106607, https://doi.org/10.1016/j.jbusvent.2026.106607
Compassion and passion: Exploring beneficiary wealth destruction in social entrepreneurship
By Anne Sophie Sabbatucci Sophie Bacq and Frank Janssen
in Journal of Business Venturing September 2026, vol. 41, no. 5, 106607, https://doi.org/10.1016/j.jbusvent.2026.106607
Summary
Most research on social entrepreneurship highlights the positive effect of compassion on creating wealth for beneficiaries. However, while compassion drives social entrepreneurs to take prosocial actions that benefit others, the actions it motivates can also be destructive due to the complex, interdependent nature of social issues. This paper ex…
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Article
Transformational family leaders in multi-unit complex family firms: A multilevel analysis

Transformational leadership is recognized for bringing family members together; however, its role in multi-unit complex family firms that rely on nonfamily managers is poorly theorized. We find that transformational family chief executive officers (CEOs) positively affect the performance of business units run by nonfamily managers, suggesting th…

Family Business Leadership
By Mathew Hughes, Yi-Ying Chang, Yi-Ying:Hu Chang, Alfredo De Massis and Sascha Kraus
in Entrepreneurship Theory and Practice
September 2026, vol. 50, no. 5, pp. 1352–1382, https://doi.org/10.1177/10422587251406313
Transformational family leaders in multi-unit complex family firms: A multilevel analysis
By Mathew Hughes Yi-Ying Chang Yi-Ying:Hu Chang Alfredo De Massis and Sascha Kraus
in Entrepreneurship Theory and Practice September 2026, vol. 50, no. 5, pp. 1352–1382, https://doi.org/10.1177/10422587251406313
Summary
Transformational leadership is recognized for bringing family members together; however, its role in multi-unit complex family firms that rely on nonfamily managers is poorly theorized. We find that transformational family chief executive officers (CEOs) positively affect the performance of business units run by nonfamily managers, suggesting th…
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Book
Finance confidential: Corporate finance insights for business leaders

Every executive eventually hits a moment of truth. A new project, a bold expansion, a promising acquisition, and suddenly the hard questions are right in front of you: Will this venture be profitable? Will it generate cash flow? How much capital will it demand? And ultimately, will it create value for shareholders or destroy it? If you can answe…

Finance
By Salvatore Cantale and Polina Bochukova
Published by Independently published, © 2026
Finance confidential: Corporate finance insights for business leaders
By Salvatore Cantale and Polina Bochukova
Published by Independently published ©2026
Summary
Every executive eventually hits a moment of truth. A new project, a bold expansion, a promising acquisition, and suddenly the hard questions are right in front of you: Will this venture be profitable? Will it generate cash flow? How much capital will it demand? And ultimately, will it create value for shareholders or destroy it? If you can answe…
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