Legal Advisors and Family Business Owners: A Transaction Cost Understanding of “the Ownership Contract”
研究家族企业所有者为何不充分利用法律工具来控制所有权变更，发现事前成本规避导致事后风险，对法律顾问和家族企业管理者有参考价值。
Family business owners are dependent on legal advice to control ownership changes and uphold a functional balance between owners. This advice spans both family law and business law. However, family business owners are found to underutilize the legal instruments available, especially for small- and medium-sized enterprises. We explore the market for legal advice provided to family business owners. Our findings describe specific ownership costs that decrease owners’ willingness and ability to contract. This avoidance of ex ante costs puts the owners at risk of extensive ex post costs that could ultimately jeopardize the business.