Addressing the theory-practice divide in family business research: The case of shareholder agreements

•We present a conceptual analysis and classification of family shareholder agreements.•We theorize on the effects that different types of shareholder agreements have on the family business system.•We identify the family's value and goal system and its level of maturity as key sources of business family heterogeneity.•We propose a Family-Practice Fit framework.•We theorize that the level of fit between the two plays a key role in attaining family unity and business continuity.