Lin, Shu HuiShu HuiLinSHING-YANG HU2019-07-232019-07-232007-01-0109648410https://scholars.lib.ntu.edu.tw/handle/123456789/414566In this study, we explore what kinds of family firms are more likely to have a family CEO or professional CEO, and investigate the performance of CEOs from different backgrounds. The results show that firms with low requirements in managerial skills and a high potential for expropriation are more likely to choose a CEO from the controlling family (nepotism). Our investigation, furthermore, shows that when a firm requires high managerial skills, using a professional CEO can help firm performance, especially if the family has low cash-flow rights and weak control. When there is large opportunity for expropriation in a family firm, the firm's performance will be better if the CEO is a family member and the family has highly persuasive cash-flow rights. © 2007 Blackwell Publishing Ltd.Family CEOs | Family firms | Firm characteristics | Performance | Professional CEOsjournal article10.1111/j.1467-8683.2007.00650.x2-s2.0-37149023542https://api.elsevier.com/content/abstract/scopus_id/37149023542