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Financial performance of firms is a key to long-term survival and profitability. Investors will only invest in firms whose financial performance is creditable; and family businesses are no exception. Perhaps, the performance of family businesses could be attributed to their unique characteristics, which shape their governance. Contractual governance and relational governance are corporate governance structures used to manage the relationships between parties to a transaction and reducedoi:10.4236/ajibm.2015.55031 fatcat:3edyajoqyba23cigrkdw4hkkgy