President interlocking in LA firms is positively associated with performance.

The association between performance and interlocks depends on corporate governance.

This favorable relationship is mitigated where expropriation odds are higher.

Covers a gap in the literature regarding the composition of familiness.

Defines the variables found in familiness and so helps enable the measurement of familiness in all family firms.

Enables conclusions and comparisons to be made about strategic decisions in family firms.

Family involvement in the business influences the adoption of a clan culture orientation.

Family firm culture is internally group oriented, based on emotional and personalist values.

Non-family business is oriented towards market and hierarchy cultures.