Impact of informal institutions on the prevalence, strategy, and performance of family firms: A meta-analysis
通过构建家族企业合法性指数（FBLI）衡量83个国家的非正式制度差异，发现合法性高的国家中家族企业更盛行、战略更独特且绩效更优，为理解跨国差异提供了新视角。
Family-controlled firms (FCFs)’ prevalence, strategies, and performance differ across countries. We explain these differences through the lens of informal institutions, suggesting that different countries have different levels of appreciation for family business. To capture this effect, we introduce the construct of family business legitimacy (FBL) and an associated index (FBLI). We empirically measure FBLI scores for 83 countries spanning both developed and emerging economies. By combining meta-analytic and archival data, we show that FCFs prevail, follow unique strategies, and outperform non-FCFs in countries with high FBLI scores. As a new contingency variable, FBL advances the literature on the informal institutional embeddedness of organizations and family business.