Mittelstand companies are held in high regard in Germany. But how different are Mittelstand and manager-led companies in reality? Prof. Dr. Dr. h.c. Friederike Welter and Dr. André Pahnke examine this question in their article "Only a myth? Business goals of the Mittelstand put to the test" for the Journal of Family Business Strategy.
According to their findings, non-financial business goals play a more significant role in Mittelstand companies than in manager-led companies. This also applies to companies that consider themselves part of the Mittelstand but, according to the definition by the IfM Bonn, no longer belong to this category.
