01666nas a2200169   4500008004000000245009600040210006900136260001800205520103700223653001201260653001701272100001801289700002001307700001901327700001801346856013201364       0                           engd00aAre Family Firms More Efficient? Revisiting the U-Shaped Curve of Firm Scale and Efficiency0 aAre Family Firms More Efficient Revisiting the UShaped Curve of   c2022 In Press3 aThis study applies a stochastic frontier model to examine the relationship between firm size and efficiency using a novel approach. The first novelty is that this study examines large and small firms separately to allow for heterogeneity between firm group sizes in terms of measuring the size-efficiency relationship. The second is that we use a modified frontier model which explicitly includes a family firm variable when measuring firm efficiency. Empirical results reveal that firms are in fact heterogeneous, with small-and-medium-sized enterprises (SMEs) exhibiting a U-shaped scale efficiency curve, while large enterprises (LE) exhibit an efficiency curve which is positive and linear. Robust results also confirm that family firms are relatively more efficient than non-family firms. In addition, while controlling for family firms does not appear to change the firm’s size-efficiency dynamics, failure to control for family firms leads to a bias in characterizing the nature of the firm’s production returns to scale.10aFinance10aOSU-Cascades1 aElston, Julie1 aZhang, Yingchao1 aChen, Ku-Hsieh1 aChen, Pei-Hwa  uhttps://dev.business.oregonstate.edu/biblio/are-family-firms-more-efficient-revisiting-u-shaped-curve-firm-scale-and-efficiency