Family businesses are a wide-spread phenomenon of significant economic importance. According to the two most recent studies, between 84.0% and 95.1% of all companies in Germany are family businesses. The Institut fÜr Mittelstandsforschung (IfM) has estimated that there are 3.0 million family businesses in Germany (95.1% of all registered companies), employing 13.4 million individuals (57.3% of employees subject to social insurance) and contributing € 1.9 trillion (41.5%) to total sales of all German companies. A comparison with other countries shows that the importance of family businesses in Germany is no exception.
KeywordsCorporate Governance Managerial Control Family Firm Family Business Family Owner
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