“…This dominance explains the increasing attention that scholars have devoted to understanding the advantages and disadvantages of family involvement in ownership (Anderson & Reeb, ; Maury, ; Miller, Le Breton‐Miller, Lester, & Cannella, ), or management (Kowalewski, Talavera, & Stetsyuk, ; Lee, ; Villalonga & Amit, ), as well as its implications for firm financial performance. Nevertheless, despite extensive empirical efforts, findings on the effects of family ownership and leadership on performance have proved inconclusive (Carney, Gedajlovic, Heugens, van Essen, & van Oosterhout, ; Gómez‐Mejía, Cruz, Berrone, & DeCastro, ; Sacristan‐Navarro, Gomez‐Anson, & Cabeza‐Garcia, ).…”