“…Caused by death or divorce Caused by retirement, promotion, or leaving Source: Dyer and Handler (1994) The notion that family involvement impedes business performance has been supported by empirical work demonstrating that family appointments impact negatively on a variety of economic indicators including stock market performance (Bennedsen et al, 2015;Smith and Amoako-Adu, 1999), return of sales and assets (Morck, Stangeland and Yeung, 2000), value creation (Bennedsen et al, 2007;Villalonga and Amit, 2006) and positive abnormal returns (Perez-Gonzalez, 2006). Furthermore, this empirical work was conducted across several nations including Canada (Smith and Amoako-Adu, 1999;Morck, Stangeland and Yeung, 2000), the United States (Perez-Gonzalez, 2006;Villalonga and Amit, 2006), Denmark (Bennedsen et al, 2007), Thailand (Bertrand et al, 2008, and Hong Kong, Singapore and…”