Abstract
Ever since scholars recognized that family firms are heterogeneous, many studies have attempted to compare different types of family firms without ensuring that the source of heterogeneity is unique to family firms. When the source of heterogeneity among family firms resembles the source of heterogeneity among nonfamily firms, the problem of counterfactual indeterminacy bias can lead to misleading or irrelevant findings that fail to distinguish the effects of family influence from factors that affect all firms. We delineate common forms of this bias and offer recommendations to prevent it in research on family firm behavior and performance.
Recommended Citation
Fang, C., Chrisman, J. J., & De Massis, A. (2026). Counterfactual Indeterminacy Bias in Family Firm Research. Family Business Review SAGE Publications.
The definitive version is available at https://doi.org/10.1177/08944865261454405
Department(s)
Business and Information Technology
Publication Status
Open Access
Keywords and Phrases
counterfactual indeterminacy bias; family business; nonfamily business
International Standard Serial Number (ISSN)
1741-6248; 0894-4865
Document Type
Article - Journal
Document Version
Citation
File Type
text
Language(s)
English
Rights
© 2026 SAGE Publications, All rights reserved.
Creative Commons Licensing
This work is licensed under a Creative Commons Attribution-Noncommercial 4.0 License
Publication Date
01 Jan 2026
