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Corporate governance (CG) has mainly focused on highly dispersed corporations. This paper has two objectives: to enrich the debate in this area and to contribute to the increasing body of literature by exploring the CG of the listed family firms in Greece; and to place the CG practices of Greek family firms within the international debate, especially in the framework of a small open capital market. In addition, this paper presents an attempt to quantify the compliance of family firms with international best practices.

The methodology consisted of the creation of a questionnaire reflecting the Greek CG code and other well‐regarded CG codes, like the OECD principles. The authors constructed a CG rating system and applied it to distinguish family from non‐family firms.

The main conclusion is that the family firms lack an efficient CG mechanism and they demonstrated poor governance compared with non‐family firms.

The results disclose the potential strengths and weaknesses of the existing CG framework of the family‐owned firms. The methodology applies in a small open economy and may have significant implications in other similar capital markets.

Methodologically, the merit of the exercise lies in its approach toward the creation of “collectively subjective” weightings, and is valuable to policymakers and academics.

Young consumers globally are susceptible to becoming compulsive shoppers. Having negative consequences and considering that compulsive shopping may originate from past family life experiences, this study aims to use human capital life-course and positive-activity theories to suggest a socio-psychological pathway for prevention. It also examined the mediating influence of happiness and money attitude.

University students in South Africa (N = 171) and in Germany (N = 202) were surveyed. Structural equation modelling (SEM) was used to test relationships and multi-group analysis (MGA) assessed cross-cultural differences.

Emotional family resources received during childhood positively impacted happiness at young adulthood, which was found to be a positive driver of budget money attitude. Budget money attitude in turn limited compulsive shopping for German young consumers but not for South Africans. Cross-cultural differences are also observed in mediating effects of happiness and budget money attitude.

This study is based on self-reported data from university students; this might limit the generalisability of findings.

A positive relationship between happiness and desirable money attitude was confirmed. This study additionally contributes by showing that for South African and German young consumers, adequate childhood emotional family resources is a happiness’ driver. This thus exposes the multiplier effects of simple acts of showing love and attention to children and how these family emotional resources can progressively limit dysfunctional consumer behaviour in the future.

Unlike complex psychotherapeutical and psychopharmacological treatments of compulsive buying that are being suggested, this study borrows from family, consumer and economic–psychological disciplines to suggest simple preventive measures.