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BLI - Banque de Luxembourg Investments ordered an empirical study from the Handelsblatt Research Institute (HRI) on “family-owned companies as investments”. The study found that family-owned companies are considerably more stable and longer-term-oriented and achieve better total shareholder returns than non-family-owned companies. So, for long-term investors in particular they are an attractive investment.
The study used balance-sheet and financial-market metrics to research empirically how listed familyowned companies have stacked up against non-family-owned companies over a long period of time. “Forty European listed family-owned companies of various market caps were compared to a peer group of listed non-family-owned companies,” explained Professor Bert Rürup,...
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