Do family businesses deliver better stock-market performance than other companies? If so, why? What ownership breakdown is most effective, and does business performance change over generations? Should we look to developed or emerging markets for the best-run family firms? These are all questions that you may have to answer if you’re thinking about investing in a family owned and/or managed company.

At this late stage of the earnings season, the S&P 500 is reporting strong results for the first quarter. Both the percentage of S&P 500 companies reporting positive earnings surprises and the magnitude of earnings surprises are above their 10-year averages. As a result, the index is reporting higher earnings for the first quarter today relative to the end of last week and relative the end of the quarter. The index is also reporting double-digit earnings growth for the second consecutive quarter.