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The question of whether, and to what extent, Chicago price theory is Marshallian is a large one, with many aspects. The theory of individual behavior is one of these, and the treatment of altruism, or, more generally, other-regarding behavior, falls within this domain. This chapter explores the analysis of other-regarding behavior in the work of Alfred Marshall and Gary Becker with a view to drawing out the similarities and differences in their respective approaches. What emerges is sense that we find in Becker’s work important commonalities with Marshall but also significant points of departure and that the line from Marshall to modern Chicago is neither as direct as it is sometimes portrayed, nor as faint as it is sometimes claimed by Chicago critics.

The purpose of this paper is to carry out a meta-regression analysis upon the literature that examines the relationship between family firms and financial performance.

Information of publication and study characteristics from 61 primary studies, comprising 726 size effects was collected. In particular, three leading factors highlighted in narrative literature reviews analyzed were: the financial performance measures, the family–firm definitions and the estimation methodologies.

Overall, a positive relationship between family involvement and financial performance was found. A series of results, those linked to return on assets (ROA) – earnings before interest, taxes, depreciation and amortization (EBITDA), suggest positive publication bias from family definition and negative publication bias when OLS is used. Tobin’s Q estimates show no linkage to certain traits and aspects of the research process.

Existing literature review and meta-analysis studies show not concluding results on the family effect upon firm performance. The meta-regression analysis used in this paper allows to examine simultaneously effect size and publication bias. The latter effect is particularly salient in the approach and findings, and not present in previous studies.

Llevar a cabo un análisis de meta-regresión a la literatura que examina la relación entre firmas familiares y desempeño financiero.

Se usa la información de la publicación y características del estudio de 61 estudios primarios, que incluyen 726 estimaciones. Se examinan tres elementos principales de esta literatura: (i) medidas de desempeño financiero, (ii) definición de firma familiar, y (iii) metodología de estimación.

Se establece una relación positiva entre involucramiento familiar y desempeño financiero. Las estimaciones que examinan ROA-EBITDA sugieren sesgo positivo de publicación. Las estimaciones que utilizan estimación de Mínimos Cuadrados Ordinarios sugieren un sesgo negativo de publicación. Las estimaciones que examinan la Q de Tobin, no sugieren relación con las características de los estudios o de la investigación.

Los estudios de meta-análisis existentes sobre esta literatura no ofrecen resultados concluyentes del efecto de las firmas familiares y desempeño financiero. El método de meta-regresión permite examinar simultáneamente el efecto entre las variables y la posible existencia de sesgo de publicación. La indagación de este último es de particular interés y no se encuentra en otros estudios.

Outlines the problem of emancipation (not only of married women) as a problem of economic order, and the historical setting of family and government. Discusses economics of the family, economic order and public finance. Concludes, with special reference to The Netherlands, that incremental improvement in individual freedom is only brought about within the so‐called capitalist system.

Most research concentrating on family and non‐family businesses with firm performance is conducted overseas with little research actually taking place in Malaysia. Thus, this study focuses on the relationship between family controlled businesses and corporate governance mechanisms with firm value among Malaysian companies. The sample size of this study is 896 companies that were listed on Bursa Malaysia from 2000 to 2003. The findings reveal that corporate governance mechanisms do have an influence on firm value in Malaysia. However, not all elements of governance mechanisms are significant, and the effects differ between family‐businesses and non‐family businesses. The results indicate as expected that board size and leadership structure affect the firm value for all companies. Further analysis shows that family businesses do practice separate leadership structure whilst board size contributes positively towards better performance in non‐family companies. More importantly, family and non‐family businesses are different in terms of corporate governance practices. Thus, regulators need to give additional attention to the unique setting of the family companies.

Teixeira devotes the first chapter of his book to a modest-sized personal portrait of Mincer and overview of his professional career. Some of this material is largely of personal interest, although only the most stoic would fail to be moved. Mincer was born into a Jewish family in Poland in 1922. He excelled as a high school student and was in his first year of university studies in Czechoslovakia (chosen largely because other universities rejected him due to his religious background) when Hitler and the Nazis took over the country. Mincer spent three years in German concentration camps and miraculously survived, although his family in Poland was much less fortunate.

Some evidence for the nexus of child care services, labour force participation, fertility, and family income inequality of working mothers in the US is presented in a cause‐effect framework. Based on sample data of 100 SMSAs in 1980, the study finds that the provision of child care services not only increases the labour force participation of working mothers, but it also results in a more equal family income distribution. Its policy implication is that the provision of child care services at an affordable cost and the restructuring of the occupational distribution of women from low paying to higher paying jobs, especially of female‐headed households, may significantly improve the economic welfare of the working poor and their children.

The purpose is to outline and illustrate the economic theory of parental self‐interest and its implications for the entitlements of children according to their gender, and using empirical data, to determine the extent to which the theory is reflected in discrimination of parents against female siblings in different communities in eastern India.

Using economic analysis, this paper outlines and illustrates the basis of the economics of parental discrimination against female children and structured questionnaires are used to collect data from village rural wives in the Santal tribal belt of West Bengal and in Orissa in Kondh‐dominated village to determine the extent to which economics explains parental discrimination between daughters and sons. The selection of the areas has been done on the basis that their different cultural dimensions may affect parental attitudes to female children. The statistical significance of differences in responses between the West Bengal sample and that from Orissa is tested using the chi‐squared test. Implications of the results for theory of parental discrimination between siblings according to their gender are outlined.

It is found that parental discrimination in favour of boys and against girls is much more marked in the Santal‐dominated belt of West Bengal than in the Kondh‐dominated villages of Orissa, where it is absent or virtually so. This is the case despite similar economic conditions and the fact that all the sampled villagers are relatively poor. Differences in cultural values seem to explain the difference.

Results could be strengthened by using a similar questionnaire to survey wives in additional villages in the Santal tribal‐belt of West Bengal and in more Kondh‐dominated villages in Orissa, as well as in other cultural contexts. Furthermore, families in these areas are patriarchal. It would be interesting to obtain results also from Indian communities that have matriarchal families as in parts of Meghalaya.

The findings support the view that the behaviour of parents towards children (according to their gender or otherwise) is a combined result of personal parental goals, social structures and cultural values. Economic theories of the family are likely to be too narrow and may be misleading in their predictions unless they take into account the institutional and cultural contexts in which families exist.

This paper aims to present a systematic methodology to study different economic labor policies and their impacts on women and families. As women entered into the labor market, the traditional division of family labor vanished. Now, families need to make the best decision to both improve the family economy and enhance family's main functions. In addition, the government is responsible toward the consequences of the family policies.

The content analysis, fuzzy cognitive map, scenario-planning and vlse kriterijumsk optimizacija kompromisno resenje (VIKOR) have been combined to deal with the studied problem. As a case study, the focus has been on the Iranian family. According to the developed methodology, different family-oriented policies have been simulated and their results are analyzed.

Findings show, considering the effects that the division of the couples’ labor has on meeting the material/non-material family needs, the best policy is to support women's home-based businesses. This way, the economic factors will be improved, the couples’ dependence on meeting their needs will be more favorably affected and the family unity will be strengthened.

In this study, “family” has been analyzed as a single socioeconomic system. Never have the family economic studies been analyzed with a systematic approach by considering all the economic and non-economic factors together. This objective can be realized by applying the methodology proposed in this research because it can help to predict the consequences of any policy toward the family and provide a platform for proposing better policies and making the related decisions in this area.

This study extensively aims to investigate the effects of different aspects of corporate governance (CG) mechanism, including board size, executive directors’ shareholdings, Chief Executive Officer (CEO) duality, a family member as the CEO and/or chairperson of the board, independent directors in remuneration committee and number of board meeting, on executive directors’ remuneration in small firms listed on Bursa Malaysia (BM).

The sample of this study consists of 173 bottom-listed companies from Bursa Malaysia in Year 2010. The Year 2010 was chosen because the disclosure of remuneration committee activities and directors’ pay structure is required under the revised Malaysia Code of Corporate Governance, 2007. Furthermore, the period selected is after the global economic crisis (2008), which may have an effect on the remuneration structure in small firms. The ordinary least squares regression was used to estimate the relationship between remuneration as dependent variable and other independent variables.

A finding from this study reveals that there is a significant positive relationship between executive ownership and executive remuneration, and between board size and executive remuneration. The results provide evidence that the family members manipulate power and control remuneration in small firms. This indicates that the independent directors are not truly independent to monitor and control the firm activities, including minimizing the excessive remuneration.

This study examines how the corporate governance (CG) affects remuneration among 173 small firms in Malaysia based on market capitalization, for one year, 2010. Hence, the results may not be generalizable to other periods or types of the companies. This shows the possibility of the absence of some additional variables in the research model and hence a limitation to the findings of the study. Although the study is being parsimonious in the choice of relevant variables, prior literature serves the guide in the selection of the used variables. This therefore gives room for future research using the potential omitted variables. Furthermore, the study focuses on total remuneration, such as fees, salaries, bonuses and benefits in kind, which makes aggregate directors’ remuneration. However, this study did not consider the remuneration related to stock options. Finally, this study only uses secondary data; hence, it could be interesting to use other instruments to collect data like a questionnaire to add more weight to the research. This study only uses one-year data; therefore, impact of changes between years cannot be analysed.

Results of the study provide evidence that the family members manipulate power and control remuneration in small firms. They reduce the effectiveness of non-executive directors because most of them are appointed by a family member and not socially responsible to their stakeholders.