Family firms may be rooted in tradition, but they are far from confined to the private sphere. Quietly, yet significantly, they account for a substantial share of publicly listed companies worldwide. Unlike their corporate peers, however, family-controlled firms come to capital markets with a different sort of logic – one that is deeply influenced by heritage, identity, and an outlook over the years. When they come to the public arena, they do not merely follow different guidelines; all too often they rewrite the entire handbook.
In this thought-provoking session, Professor Marc Steffen Rapp, a renowned scholar of corporate governance, capital markets, and family firms, will unpack the unique dynamics that shape the relationship between family-owned businesses and the stock market. Based on large-scale empirical studies – including the influential report “Listed Family Firms in Europe – Relevance, Characteristics and Performance” – Prof. Rapp will unpack how listed family firms differ from their non-family peers, what motivates families to go public, and how these companies perform after listing. Following that, Tom Swinnen, Managing Partner at Simont Braun, will follow with practical insights and case studies from the Belgian market.
- Setting the Stage: Family Firms Aren’t Just Private. FFs represent a significant proportion of listed firms around the world.
- Are Listed Family Firms Special? Listed FFs differ from other listed firms in various dimensions
- Going Public: What Drives Families to List? Going public is a pivotal decision – but often not just about raising capital. What drives families to list?
- The Family-Firm Premium: Myth or Reality? Do listed family firms outperform – or underdeliver? What can we learn from the academic literature?
Prof. Rapp will offer a rich perspective for executives, owners, investors, and anyone engaged in the evolving intersection of tradition, governance, and capital markets.
This session is especially relevant in today’s climate, where transparency demands, ESG pressures, and intergenerational transitions are pushing family firms to rethink their role in public markets.
Key Takeaways:
- A Clearer View on Family Firms in Public Markets: Understand how and why family-controlled businesses engage with – and disengage from – stock markets across Europe.
- Empirical Insights on Performance and Governance: Learn what sets listed family firms apart in terms of growth, control, and corporate governance.
- Strategic Lessons for Leaders and Owners: Gain new perspectives on listing decisions, investor relations, and long-term value creation in family-owned enterprises.
Event Overview and Agenda
- Join us for an insightful evening exploring the dynamics of family firms going public, beginning with a warm welcome and introduction.
- Prof. Dr. Marc Steffen Rapp will lead a compelling session on the strategic trade-offs these businesses face, including issues of legacy, control, and transparency.
- Tom Swinnen, Managing Partner at Simont Braun, will then share valuable perspectives through selected Belgian cases.
- The event concludes with an open Q&A and networking session, offering a chance to connect with peers, share experiences, and gain practical insights.
About the speaker
Prof. Dr. Marc Steffen Rapp is a distinguished professor of management accounting and control at Philipps-Universität Marburg (Germany) and a professor at the Center for Corporate Governance at Copenhagen Business School. He is affiliated with the Nordic Finance and the Good Society research network and chairs the Working Group on Mid-Sized Companies at the Schmalenbach Society for Business Economics. His research explores capital allocation, corporate governance, economic resilience, sustainable finance, and the evolving role of family firms in public markets. Prof. Rapp is the lead author of the widely recognized study “Listed Family Firms in Europe – Relevance, Characteristics and Performance”. He regularly teaches at institutions worldwide, including the BMI Executive Institute, TU Munich, HHL Leipzig, and GIST Singapore. He is a sought-after voice in bridging academic research with real-world corporate challenges.
Partners of the event
This event is held in partnership with Simont Braun, a leading independent business law firm headquartered in Brussels. Known for their strong expertise in corporate law, capital markets, and governance, Simont Braun advises both private and listed companies – particularly family-owned firms – on complex legal and strategic transitions, including initial public offerings (IPOs), delistings, succession planning, and regulatory compliance.
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