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Baltic Family Firm Institute - ECGI

"Resilience of family businesses during turbulent times"

Was hosted by Tartu University, Estonia

Delta Centre, Narva str. 18


Friday, 30 June 2023 | 10:30 - 21:00 EEST
Saturday, 01 July 2023 | 08:45 - 14:00 EEST

University of Tartu | Delta Centre, Narva str. 18

The main conference room was #1037.

(The academic track was room #1005 and practitioner track was room #1006).

The conference dinner was held in Restaurant Joyce


With support from:

Event sponsorLivonia Partners

Award sponsors: ViaClarus OÜ | Signet Bank | Sorainen


As part of the Family Capitalism pillar of the ECGI’s Responsible Capitalism initiative, the conference focused on how family-owned enterprises can harness their long-term vision and values to achieve stronger resilience during current challenges caused by inflation, geopolitical risks, supply chain crisis, and financial constraints. Family businesses often demonstrate higher flexibility during crisis, securing jobs and supporting their local communities. The discussion revolved around the opportunities and challenges that lie ahead for the next generation of family business leaders, and practical guidance for family enterprises shaping the future.

The conference also focused on family firm governance issues, as the governance of family businesses is more complicated than for non-family firms because of the complex family, business and ownership relationships.

This was an in-person event. Some sessions were recorded and published afterwards.


  • Morten Bennedsen (University of Copenhagen, INSEAD and ECGI)
  • Janis Berzins (BI Norwegian Business School)
  • Valdone Darskuviene (ISM University of Management and Economics)
  • Krista Jaakson (University of Tartu)
  • Valerija Kozlova (RISEBA University of Applied Sciences)
  • Anete Pajuste (Stockholm School of Economics in Riga and ECGI)
  • Yupana Wiwattanakantang (National University of Singapore and ECGI)
  • Alminas Zaldokas (Hong Kong University of Science and Technology)


  • Morten Bennedsen, INSEAD and ECGI
  • Krista Jaakson, Tartu University
  • Anete Pajuste, Stockholm School of Economics (Riga) and ECGI
  • Yupana Wiwattanakantang, National University of Singapore and ECGI

Know more:


Conference: University of Tartu, Delta Centre, Narva str. 18
Dinner: Joyce, V SpaaHotell OÜ, Riia 2, Tartu, 51004


Programme queries should be directed to Anete Pajuste (
Practical queries should be directed to Naureen Khan ( 



This event is part of the ECGI Responsible Capitalism Initiative
Learn more


FRIDAY, JUNE 30 2023 | 10:30 CEST

Keynote: The Art of the Pivot: What Differentiates Resilient Families?


Keynote: Family businesses in times of ‘polycrisis’: Some important challenges


I Am The Firm! Eponymous Firms and Rose-Coloured Forecasts




General Discussion

Practitioner track


Baltic Family Firm Champions 2023 Awards


Conference Dinner

SATURDAY, JULY 01 2023 | 08:45 CEST

Coffee break, networking

Practitioner Track Day 2


Hospitality Break


Hospitality Break


Hospitality Break


Lunch Break


Anete Pajuste

Professor of Finance, Head of Accounting and Finance Department
Stockholm School of Economics (Riga)
Research Member

Morten Bennedsen

André and Rosalie Hoffmann Chaired Professor of Family Enterprise
Research Member

Yupana Wiwattanakantang

Associate professor, Department of Finance
NUS Business School, National University of Singapore
Research Member

Andrew Ellul

Professor of Finance and Fred T. Greene Chair in Finance
Kelley School of Business, Indiana University
Research Member

Janis Berzins

Associate Professor
BI Norwegian Business School
Academic Member

Bogdan Stacescu

Associate Professor - Department of Finance
BI Norwegian Business School
Academic Member

Sponsored by


Anete Pajuste
Stockholm School of Economics in Riga and ECGI
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