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Decisions, Entrepreneurial Leadership & Strategy, Family, Governance, Leadership, Management, Ownership, Research Findings, Strategy
What Our Giving Says About Us Beyond "How Much": What Family Giving Really Signals
A global survey of 525 family firm decision-makers across 21 countries finds that founder identity, whether Missionary or Darwinian, shapes philanthropic behavior across generations. Missionary founders, driven by social purpose, produce giving that grows stronger over time as their legacy is idealized and absorbed into family identity. Darwinian founders, motivated by competitive logic, engage in more reputational giving that can shift with other priorities. Transgenerational control intentions further complicate the picture: families focused on succession may quietly redirect philanthropic energy inward. For advisors, the implication is clear: identity, not just structure, determines whether family giving becomes a lasting legacy or a secondary priority. Read the full article, What Our Giving Says About Us, and explore the Richards & Kammerlander study in Family Business Review.
Decisions, Entrepreneurial Leadership & Strategy, Family, Governance, Leadership, Management, Ownership, Research Findings, Strategy
The Cost of Control: Is Your Legacy Fueling “Innovation Reluctance”?
A large-scale global study of 3,322 publicly listed firms across 32 OECD countries finds that family involvement is, on average, associated with lower market valuation, particularly when renewal investment is weak or governance rigor is unclear. While family ownership is discounted less in strong institutional environments, the valuation penalty tied to family CEOs persists across contexts. Crucially, underinvestment in R&D partially explains this performance gap, suggesting that visible, disciplined innovation is a key credibility signal to markets.For family enterprises, the message is not anti-control. It is structural: legacy, governance, and geography determine whether family influence fuels long-term value or quietly contributes to “innovation reluctance.”
Leadership and Strategy, Ownership, Research Findings, Strategy
Can you understand family-owned business without the emotions?
How do emotions impact decision-making in your family enterprise? Fabian Bernhard, Associate Professor of Management, EDHEC Business School, explains.
Family, Management, Ownership, Practitioner Perspectives, Strategy
How to Build and Sustain a Successful, Enduring Enterprise
The HBR Family Business Handbook brings sophisticated guidance and practical advice from family business experts Josh Baron, adjunct professor, Columbia Business School, and Rob Lachenauer.
Governance, Leadership, Ownership, Research Findings, Strategy
What’s the relationship between Boards and CEO power?
In “Board Composition and CEO Power,” Professor Tim Baldenius and colleagues study the optimal composition of corporate boards.
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Decisions, Entrepreneurial Leadership & Strategy, Family, Governance, Leadership, Management, Ownership, Research Findings, Strategy
What Our Giving Says About Us Beyond "How Much": What Family Giving Really Signals
A global survey of 525 family firm decision-makers across 21 countries finds that founder identity, whether Missionary or Darwinian, shapes philanthropic behavior across generations. Missionary founders, driven by social purpose, produce giving that grows stronger over time as their legacy is idealized and absorbed into family identity. Darwinian founders, motivated by competitive logic, engage in more reputational giving that can shift with other priorities. Transgenerational control intentions further complicate the picture: families focused on succession may quietly redirect philanthropic energy inward. For advisors, the implication is clear: identity, not just structure, determines whether family giving becomes a lasting legacy or a secondary priority. Read the full article, What Our Giving Says About Us, and explore the Richards & Kammerlander study in Family Business Review.
Decisions, Entrepreneurial Leadership & Strategy, Family, Governance, Leadership, Management, Ownership, Research Findings, Strategy
The Cost of Control: Is Your Legacy Fueling “Innovation Reluctance”?
A large-scale global study of 3,322 publicly listed firms across 32 OECD countries finds that family involvement is, on average, associated with lower market valuation, particularly when renewal investment is weak or governance rigor is unclear. While family ownership is discounted less in strong institutional environments, the valuation penalty tied to family CEOs persists across contexts. Crucially, underinvestment in R&D partially explains this performance gap, suggesting that visible, disciplined innovation is a key credibility signal to markets.For family enterprises, the message is not anti-control. It is structural: legacy, governance, and geography determine whether family influence fuels long-term value or quietly contributes to “innovation reluctance.”
Leadership and Strategy, Ownership, Research Findings, Strategy
Can you understand family-owned business without the emotions?
How do emotions impact decision-making in your family enterprise? Fabian Bernhard, Associate Professor of Management, EDHEC Business School, explains.
Family, Management, Ownership, Practitioner Perspectives, Strategy
How to Build and Sustain a Successful, Enduring Enterprise
The HBR Family Business Handbook brings sophisticated guidance and practical advice from family business experts Josh Baron, adjunct professor, Columbia Business School, and Rob Lachenauer.
Governance, Leadership, Ownership, Research Findings, Strategy
What’s the relationship between Boards and CEO power?
In “Board Composition and CEO Power,” Professor Tim Baldenius and colleagues study the optimal composition of corporate boards.
Leadership, Management, Ownership, Research Findings, Strategy
What is transgenerational guilt?
Columbia’s Family Business Program asked EDHEC Professor Fabian Bernhard to explain his research on the impact of emotions, particularly transgenerational guilt, on family firms.
Family Voices, Governance, Leadership, Ownership, Strategy
How does a family constitution work?
Family constitutions can be an effective form of governance. Razak Dawood ’68, Founding Advisory Board member of Columbia’s Global Family Enterprise Program, shares how it works for his family.
Leadership, Management, Ownership, Research Findings, Strategy
Family firms can respond to prior generation’s unethical behavior. Here’s how.
Columbia’s Family Business Program asked EDHEC Professor Fabian Bernhard to explain his research on the impact of emotions, particularly transgenerational guilt, on family firms.