The Effects Of Corporate Acquisitions On Ceo Compensation And Ceo Turnover Of Family Firms

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The Effects of Corporate Acquisitions on CEO Compensation and CEO Turnover of Family Firms

Author : Amedeo De Cesari
Publisher :
ISBN 13 :
Total Pages : 59 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis The Effects of Corporate Acquisitions on CEO Compensation and CEO Turnover of Family Firms by : Amedeo De Cesari

Download or read book The Effects of Corporate Acquisitions on CEO Compensation and CEO Turnover of Family Firms written by Amedeo De Cesari and published by . This book was released on 2016 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the impact of corporate acquisitions on CEO compensation and CEO turnover of family firms in Continental Europe. We find that CEOs in family firms do not experience an increase in their compensation during the post-acquisition period, while there is a positive and statistically significant association between the compensation of CEOs in non-family firms and their acquisition activity. This finding is consistent with the view that controlling family shareholders provide monitoring for CEOs mitigating managerial agency problems that arise from the separation of ownership and control. Further, we find that the likelihood of CEO turnover declines following an acquisition in non-family firms, suggesting that these acquiring CEOs do not face a higher likelihood of dismissal while they receive a higher level of compensation. In contrast, there is no significant impact of acquisitions on CEO turnover in family firms.

Mergers and Acquisitions and Executive Compensation

Author : Virginia Bodolica
Publisher : Routledge
ISBN 13 : 1317624300
Total Pages : 262 pages
Book Rating : 4.3/5 (176 download)

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Book Synopsis Mergers and Acquisitions and Executive Compensation by : Virginia Bodolica

Download or read book Mergers and Acquisitions and Executive Compensation written by Virginia Bodolica and published by Routledge. This book was released on 2015-06-26 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past decades, the total value of executive compensation packages has been rising dramatically, contributing to a wider pay gap between the chief executive officer and the average worker. In the midst of the financial turmoil that brought about a massive wave of corporate failures, the lavish executive compensation package has come under an intense spotlight. Public pressure has mounted to revise the levels and the structure of executive pay in a way that will tie more closely the executive wealth to that of shareholders. Merger and acquisition (M&A) activities represent an opportune setting for gauging whether shareholder value creation or managerial opportunism guides executive compensation. M&As constitute major examples of high-profile events prompted by managers who typically conceive them as a means for achieving higher levels of pay, even though they are frequently associated with disappointing returns to acquiring shareholders. Mergers and Acquisitions and Executive Compensation reviews the existing empirical evidence and provides an integrative framework for the growing body of literature that is situated at the intersection of two highly debated topics: M&A activities and executive compensation. The proposed framework structures the literature along two dimensions, such as M&A phases and firm’s role in a M&A deal, allowing readers to identify three main streams of research and five different conceptualizations of causal relationships between M&A transactions and executive compensation. The book makes a comprehensive review of empirical studies conducted to date, aiming to shed more light on the current and emerging knowledge in this field of investigation, discuss the inconsistencies encountered within each stream of research, and suggest promising directions for further exploration. This book will appeal to researchers and students alike in the fields of organizational behavior and governance as well as accounting and accountability.

The Role of Family Involvement on CEO Turnover

Author : Maximiliano Gonzalez
Publisher :
ISBN 13 :
Total Pages : 45 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis The Role of Family Involvement on CEO Turnover by : Maximiliano Gonzalez

Download or read book The Role of Family Involvement on CEO Turnover written by Maximiliano Gonzalez and published by . This book was released on 2014 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: Manuscript Type: EmpiricalResearch Question/Issue: How sensitive is CEO turnover to firm performance in the context of family firms?Research Findings/Insights: Using a detailed database of mostly non-listed Colombian firms, we find that family ownership (direct and indirect through pyramidal structure) reduces the probability of CEO turnover when financial performance has been poor, but found the opposite effect when families participate actively on the board of directors. These results hold even when the manager is a family member, although the probability of turnover is lower for a family member. This lower probability does not affect the financial performance of the firm. In other words a benevolent entrenchment of the family CEO seems to occur.Theoretical/Academic Implications: First, the theoretical premise that bad financial performance usually leads to changes in top management has been widely tested around the world; however, this study is among the few to deal with this issue in terms of closely held firms' micro-data. Second, our results contribute to the growing literature on agency problems inside family firms. Third, this study contributes to the empirical literature of corporate governance in family firms for an under-studied region that has gained relevance in the world economy. Practitioner/Policy Implications: Usually family firms are treated as a single unit, ignoring the different ways families may influence governance decisions. This study considers family involvement in three dimensions: management, ownership (direct and indirect), and control, and shows that the impact of family in governance decisions is not uniform and depends largely on the different ways family is involved in business.

CEO Compensation and Turnover

Author : Eliezer M. Fich
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis CEO Compensation and Turnover by : Eliezer M. Fich

Download or read book CEO Compensation and Turnover written by Eliezer M. Fich and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent wave of revelations involving corporate governance problems has created significant interest in the relationships between chief executive officers (CEOs) and their boards of directors. In this paper we focus on one important but previously uninvestigated characteristic of boards: the tendency of many boards to have two (or more) directors who are also members of another company's board. We define this relationship as a mutual interlock. We explore the consequences of this phenomenon for CEO compensation and CEO turnover.Our empirical analyses - conducted for a sample of 366 large companies, in which 87% of the companies have at least one mutual interlock - show that CEO compensation tends to be higher and CEO turnover tends to be lower when the CEO's board has one or more pairs of board members who are mutually interlocked with another company's board. There are two possible interpretations of these results. One is that the mutual interlocks are an indication of and a contributor to CEO entrenchment, and the higher compensation and lower turnover follow from this entrenchment. The other is that the mutual interlocks are an indication of the strengthening of an important and valuable strategic alliance for the company, and the higher CEO compensation and lower turnover are the CEO's reward for arranging the alliance. We believe that the first interpretation is more accurate, for the reasons discussed in the paper.

The Effect of Founder-CEO Overconfidence on Merger Premium

Author : Christoph Meyer
Publisher : GRIN Verlag
ISBN 13 : 3656957290
Total Pages : 91 pages
Book Rating : 4.6/5 (569 download)

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Book Synopsis The Effect of Founder-CEO Overconfidence on Merger Premium by : Christoph Meyer

Download or read book The Effect of Founder-CEO Overconfidence on Merger Premium written by Christoph Meyer and published by GRIN Verlag. This book was released on 2015-05-08 with total page 91 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2014 in the subject Business economics - Investment and Finance, grade: 1,0, Heriot-Watt University Edinburgh (Finance), course: Corporate Finance, language: English, abstract: Theoretical and empirical research has indicated that overconfidence affects merger decision-making and merger premium. However, founder-CEOs have not been subject of such a study, yet. This lack is particular surprising when considering the differences between founder and manager-CEOs as well as the media attention of founder-CEOs. The present dissertation aims to fill the research gap through investigating the effect of founder-CEO overconfidence on merger premium in the high-tech industry. Moreover, this dissertation aims to extend the literature by including target CEO overconfidence and studying the impact on merger premium when both, acquirer and target CEO are overconfident. By studying founder-CEOs this dissertation also aims to establish the effectiveness of founders as CEOs. The resource-based perspective argues that while founders help in the early years of the company, they become less effective as the firm evolves, since they lack the necessary management skills. Design/methodology/approach – Using ordinary least square (OLS) technique, this study investigates the effects of implemented factors in determining the merger premium paid in high-tech acquisitions. A sample consisting of 245 acquisitions in the high-tech industry of 124 CEOs during a 19-year period (1995 to 2013) has been observed. In order to test the founder-CEO effects, this dissertation develops a matched sample approach of 62 founder-CEOs and 62 manager-CEOs. This study shows a strong relationship between CEO overconfidence and acquisitions premium paid. The results suggest that the CEO overconfidence may provide an explanation for the well-rehearsed overpayment problem. An additional analysis indicates that the highest premium is paid when combined acquiring and tar-get firm CEO overconfidence exist. The dissertation also shows that founder-CEOs pay higher premia than manager-CEOs in the high-tech industry. It has been proven that founder-CEOs’ decisions are more independent from interventions of the board of directors and that founder-CEO overpayment is not dependent on the company’s size or relatedness of mergers. The findings are reliable as the results remain constant for applied robustness tests.

Motives for Partial Acquisition

Author : Khalil Torabzadeh
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Motives for Partial Acquisition by : Khalil Torabzadeh

Download or read book Motives for Partial Acquisition written by Khalil Torabzadeh and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: A company may acquire shares in another corporation to discipline the target management and improve target performance, or to gain inter corporate perquisites such as higher dividends and favorable business deals to the detriment of the other shareholders of the target firm. We investigate the change in the post-acquisition share and operating performance, the dividend policy, the liquidity, and growth prospects of U.S. firms whose shares were partially acquired by other corporations during 1995 2000, wherein the target firms remained independent publicly traded companies following the acquisition. Using a change in CEO post acquisition as a proxy for the extent to which the acquirer wishes to change the direction of the target management, we find that target firms where the CEO was retained show negative risk adjusted abnormal share returns and significant deterioration in operating performance after the acquisition while having a substantial increase in CEO compensation compared to those target firms that replace their CEO during the post acquisition period. This suggests that disciplinary motives may predominate where the acquisition leads to a change in CEO, while obtaining inter corporate perquisites may be the motivation in acquisitions that do not lead to replacement of the target firm CEO. We do not find support for financial perquisites such as higher dividends that are subject to inter-corporate exclusion.

Three Essays in Mergers and Acquisitions and Executive Compensation

Author : Nada El-Hassan
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (139 download)

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Book Synopsis Three Essays in Mergers and Acquisitions and Executive Compensation by : Nada El-Hassan

Download or read book Three Essays in Mergers and Acquisitions and Executive Compensation written by Nada El-Hassan and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Several studies in the finance literature (and other fields) focus on how compensation contracts of CEOs shape incentives and affect risk-taking behaviour. We examine how CEOs with varying risk appetites approach merger and acquisition (M&A) deals differently due to incentives driven by their compensation structure. Relying on VEGA, the sensitivity of executive's portfolio to a one percent change in volatility of stock returns, we document that acquirers and targets behave differently vis-à-vis their compensation. We show that a longer time to completion is related to the target VEGA (and not bidder VEGA). We also find that a more risk-taking CEO (as encouraged by VEGA) selling his firm would delay completing a deal by a significant three weeks. We conjecture that target CEOs choose to delay deal completion to look for better bids that tally their need to change their portfolio of company holdings. Next, we link executive compensation, mergers and acquisitions, and environmental, social and governance in one framework that produces new insights into how CEO's incentives yield sub-optimal investment decisions. Our sample consists of 1,280 mergers (M&A) from the period of 1993-2018 and uses the CEO's wealth sensitivity to stock price volatility (VEGA) as a proxy for risk-taking behaviour. We establish that there is a shift in the relation between CSR rating and cumulative abnormal announcement returns of M&As deals. After 2008, the market for corporate control no longer rewards more commitment to CSR activities. We examine the performance of our sample of mergers in comparison with that of a matched sample of non-bidding firms vis-à-vis their environmental, social and governance (ESG) profiles over the long term. Our results indicate that more CSR commitment does not translate into better long-term returns for shareholders and stakeholders if the firms participate in M&As. Moreover, we investigate how the bidder and target CSR ratings, as well as management risk-taking incentives (proxied by VEGA), affect deals total synergy estimated around the announcement day. Our results show that firms with lower CSR ratings yield more synergy gains, which are not related to both bidder and target risk-taking incentives. Finally, we provide new evidence related to the debate whether corporate social responsibility (CSR) strategies intrinsically benefit organizations and contribute to wealth creation after controlling for CEO compensation. We utilize a sample of M&A deals spanning the period 1993 to 2018 of target firms with different CSR ratings and investigate the effect of CEOs' executive compensation driven incentives. Our main finding is that Low CSR firms becoming targets of M&A contests in the subperiod post-2008 record the highest cumulative average abnormal returns (compared to High CSR over the same period and other subsamples). We report that Low CSR firms with High VEGA target CEOs specifically perform better in corporate control contests in later years. We justify this as Low CSR firms are characterized by lower governance and more agency costs where management seeks benefit its own interests instead of being considerate for the stakeholders at large.

Exploring the Latest Trends in Management Literature

Author : Sudhir Rana
Publisher : Emerald Group Publishing
ISBN 13 : 1802623574
Total Pages : 297 pages
Book Rating : 4.8/5 (26 download)

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Book Synopsis Exploring the Latest Trends in Management Literature by : Sudhir Rana

Download or read book Exploring the Latest Trends in Management Literature written by Sudhir Rana and published by Emerald Group Publishing. This book was released on 2022-11-14 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: Exploring the Latest Trends in Management Literature presents cutting edge literature reviews on the emerging concepts, theories, and research trends across management disciplines.

Mergers, Acquisitions, and Corporate Restructurings

Author : Patrick A. Gaughan
Publisher : John Wiley & Sons
ISBN 13 : 1118997549
Total Pages : 688 pages
Book Rating : 4.1/5 (189 download)

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Book Synopsis Mergers, Acquisitions, and Corporate Restructurings by : Patrick A. Gaughan

Download or read book Mergers, Acquisitions, and Corporate Restructurings written by Patrick A. Gaughan and published by John Wiley & Sons. This book was released on 2015-03-30 with total page 688 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate restructurings are an indispensable tool in building a new generation of re-engineered companies with the power and resources to compete on a global playing field. Written from a practical and historical perspective, Mergers, Acquisitions, and Corporate Restructurings, Fourth Edition carefully analyzes the strategies and motives that inspire M&As, the laws and rules that govern the field, as well as the offensive and defensive techniques of hostile acquisitions.

Mergers, Acquisitions, and Other Restructuring Activities

Author : Donald DePamphilis
Publisher : Academic Press
ISBN 13 : 0128150750
Total Pages : 584 pages
Book Rating : 4.1/5 (281 download)

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Book Synopsis Mergers, Acquisitions, and Other Restructuring Activities by : Donald DePamphilis

Download or read book Mergers, Acquisitions, and Other Restructuring Activities written by Donald DePamphilis and published by Academic Press. This book was released on 2019-08-13 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mergers, Acquisitions, and Other Restructuring Activities: An Integrated Approach to Process, Tools, Cases, and Solutions, Tenth Edition, is the most comprehensive and cutting-edge text available on the subject. Supported by recent peer-reviewed academic research, this book provides many recent, notable deals, precedent-setting judicial decisions, government policies and regulations, and trends affecting M&As, as well as takeover strategies and tactics. Today's policies, politics and economics are reflected in the book's 40 case studies, 90% of which involve deals either announced or completed during the last several years. These cases represent friendly, hostile, highly leveraged, and cross-border transactions in ten different industries, involving public and private firms and those experiencing financial distress. Sections discuss an overview of M&As, key regulations, common strategies and tactics, how managers may choose a business strategy from available options, valuation methods and basic financial modeling techniques, the negotiating process, how deal structuring and financing are inextricably linked, how consensus is reached during the bargaining process, the role of financial models in closing the deal and strategic growth options as alternatives to domestic M&As. Provides a rigorous discussion of the strengths and limitations of financial modeling as applied to M&A and how these models can be applied in various areas Includes new academic research and updated/revised case studies Presents updated M&A tactics and strategies, along with court cases and new regulations governing business combinations, valuation methodologies and financing

Understanding and Managing Strategic Governance

Author : Wei Shi
Publisher : John Wiley & Sons
ISBN 13 : 1119798280
Total Pages : 323 pages
Book Rating : 4.1/5 (197 download)

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Book Synopsis Understanding and Managing Strategic Governance by : Wei Shi

Download or read book Understanding and Managing Strategic Governance written by Wei Shi and published by John Wiley & Sons. This book was released on 2021-08-04 with total page 323 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explore the interplay between corporate governance and strategic decision-making in this startling new resource In Understanding and Managing Strategic Governance, strategy and management experts Dr. Wei Shi and Robert E. Hoskisson deliver an insightful exploration of the influence that governance actors, like the board of directors, activist investors, institutional investors, and securities analysts, have on important strategic decisions. Based on surveying the latest research and analyzing unique datasets compiled by the authors, the book explains the impact that governance actors have on a firm’s strategic choices and the quality of such choices as well as the unintended consequences of that impact. The authors also describe how executives can manage the conflicting interests of multiple governance actors and leverage the influence of these actors to make effective strategic decisions. In this book, you’ll discover: How to avoid the strategic pitfalls that arise from governance actor influence and harm firms’ long-term competitiveness The effect that governance actors can have on corporate strategy, competitive strategy, corporate innovation strategy, global strategy, stakeholder strategy, and more The latest trends in corporate governance and their implications for managers, regulators, and policy makers in this area Perfect for C-level executives, board of directors, and institutional investors as well as students of corporate governance and strategy, Understanding and Managing Strategic Governance is a revealing and original examination of the interplay between corporate governance and firm strategy and how to manage that interplay to create sustainable competitive advantages.

The Effect of Cross-listing on CEO Compensation and CEO Turnover

Author : Prasad Vemala
Publisher :
ISBN 13 :
Total Pages : 180 pages
Book Rating : 4.:/5 (823 download)

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Book Synopsis The Effect of Cross-listing on CEO Compensation and CEO Turnover by : Prasad Vemala

Download or read book The Effect of Cross-listing on CEO Compensation and CEO Turnover written by Prasad Vemala and published by . This book was released on 2012 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Foreign firms that have cross-listed on stock exchanges in United States have achieved many benefits. However, the effect of cross-listing CEOs of firms that cross-list is little known. This study investigates the effect of cross-listing on CEO compensation and CEO turnover. Using a sample of firms from Canada that cross-listed on U.S. stock exchanges, this study finds that cross-listing does affect CEO pay and CEO turnover. In investigation this relationship, the study found that it is not the performance of the firms, but the status of cross-listing and board characteristics that cause CEO replacements. However, performance seems to affect CEO compensation both before and after cross-listing.

Family Ownership and CEO Turnovers

Author : Xia Chen
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Family Ownership and CEO Turnovers by : Xia Chen

Download or read book Family Ownership and CEO Turnovers written by Xia Chen and published by . This book was released on 2014 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the impact of the founding family's presence on CEO turnover decisions. We find that family firms managed by CEOs outside the founding family (i.e., professional CEO family firms) have higher CEO turnover-performance sensitivity than family firms managed by family members (i.e., family CEO firms) or non-family firms. These results are robust to alternative performance measures and CEO turnover definitions. Additional analyses indicate that higher family ownership leads to even higher (lower) turnover-performance sensitivity in professional CEO family firms (family CEO firms). These results indicate that, with regard to CEO turnover decisions, better monitoring of CEOs by family owners leads to the alleviation of agency conflicts, but the power of family CEOs leads to potential family entrenchment.

The Impact of Domestic Institutional Investors and Foreign Investors on CEO Compensation and Firm Performance in Family Firms

Author : Cheng-Jen Huang
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis The Impact of Domestic Institutional Investors and Foreign Investors on CEO Compensation and Firm Performance in Family Firms by : Cheng-Jen Huang

Download or read book The Impact of Domestic Institutional Investors and Foreign Investors on CEO Compensation and Firm Performance in Family Firms written by Cheng-Jen Huang and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: There has been a widespread public attention and academic interest on family ownerships in emerging Asian countries. Although family ownerships can lead to direct and effective monitoring of managerial discretion and lower principal-agent costs, they also want to increase corporate performance. Therefore, they encourage domestic institutional investors and foreign investors to invest their firms to provide professional knowledge and international experience. This study examines how domestic institutional investors and foreign investors influence CEO compensation system in Asian family firms. I collected 1,387 listed firm-year observations of family firms in Taiwan from 1999 to 2005. The results indicate that family firms tend not to use compensation as an incentive tool for CEOs to achieve performance. However, domestic institutional ownerships and foreign ownerships enhance companies by providing incentives to CEOs to improve firm performance. In addition, foreign investors push companies to provide more incentives to CEOs than those provided by institutional investors.

Advances in Mergers and Acquisitions

Author : Cary L. Cooper
Publisher : Emerald Group Publishing
ISBN 13 : 1800717199
Total Pages : 144 pages
Book Rating : 4.8/5 (7 download)

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Book Synopsis Advances in Mergers and Acquisitions by : Cary L. Cooper

Download or read book Advances in Mergers and Acquisitions written by Cary L. Cooper and published by Emerald Group Publishing. This book was released on 2021-09-29 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: Volume 20 of Advances in Mergers and Acquisitions explores a range of issues relevant to a post-Covid world and the ensuing recession and is of interest to scholars in strategic management, organization theory, and organizational behaviour who are studying questions around mergers and acquisitions.

The Link Between the Acquisitions Market and the Market for CEOs

Author : Coates, IV (John C.)
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis The Link Between the Acquisitions Market and the Market for CEOs by : Coates, IV (John C.)

Download or read book The Link Between the Acquisitions Market and the Market for CEOs written by Coates, IV (John C.) and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Two empirical literatures tie the displacement of CEOs of widely-held companies to the poor performance of their firms - the turnover and mergers and acquisitions (M&A) literatures. In this paper we demonstrate a strong link between CEO turnover and friendly acquisitions of target firms in the S&P 500 between 1992 and 2004. We find that acquisitions and internal CEO turnover are most likely to occur at the same point in a CEO's tenure, roughly five years after her initial appointment. We conjecture that deals are potential alternatives to CEO dismissal by the board or imminent CEO retirement. We explore interactions among CEO dismissals, retirements and resignations, and acquisitions on the one hand, and firm performance and CEO tenure on the other. We also investigate more specific hypotheses relating tenure to a CEO's age, status as an inside or outside appointee, and the level of deal activity in the M&A market. Among our key findings is that the probability of a deal remains constant over the upper half of the age distribution of our sample CEOs, even though their probability of retiring increases sharply. This suggests that - contrary to our conjecture - impending retirement is not among the stronger incentives driving the management of target firms to seek friendly buyers. Finally, this paper contributes on the methodological level by comparing multinomial logistic regression - the traditional methodology of turnover research - to competing risk regression, a methodology adapted from epidemiological and medical research and recently introduced into the empirical finance literature.

Corporate Diversification & CEO Turnover in Family Business

Author : Pascal Nader
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (14 download)

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Book Synopsis Corporate Diversification & CEO Turnover in Family Business by : Pascal Nader

Download or read book Corporate Diversification & CEO Turnover in Family Business written by Pascal Nader and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Through the business world history, the chief executive officers (CEO's), the chief financial officers (CFO's), managers, and directors... are the main players in using their potentials for the companies, stakeholders' benefits, and profits. The family business represents a major organizational management system in business. Over the past decades, this organizational system has proved a high reputation for its malleability and flexibility regarding the management, the performance, the controlling system, the profitability and the turnovers. Therefore, the family business currently forms a competitive advantage comparing with other several international firms. This research shows that major family-controlled businesses (FCBs) actually outperform other types of businesses. It examines the nature of such family businesses in an attempt to explain why some seem to do so well, and others so poorly. Accordingly, this study examines the ability to apply the relationship between diversification in family business and the CEO's turnovers. The results were obtained after conducting an analysis on a sample of Lebanese family business firms located in Beirut area.