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ASSETS FAMILY FIRMS CAN LEVERAGE TO MAKE SUCCESSFUL ACQUISITIONS
by Richard L. Narva

More than any time in the past 35 years that I have been advising family controlled companies, these enterprises are growing by acquisition.  Most corporate finance professionals and the lawyers who advise them that I have met view family firms as inventory for their deals, and low hanging fruit at […]

SUCCESS, NOT SUCCESSION, IS THE ISSUE
by Richard Narva

In a 2008 article on family controlled media companies, Professor Jonathan A. Knee, the then Director of the Media Project of Columbia University, wrote:

The prime determinant of how long a family dynasty will endure is how well its business is run.  Nothing is more likely to spur a family insurrection […]

CHALLENGING FAMILY ENTERPRISE GOVERNANCE: RESIGNING VERSUS RESIGNATION
by Richard L. Narva

Here is a nasty little secret about corporate governance in family controlled companies: No one ever resigns as a matter of principle, even when use of this “nuclear option” is clearly called for by the facts of the situation.

For virtually my entire career as an advisor to family controlled companies, […]