Drawing upon agency theory, we examine the impact of interactions among family ownership, firm age, and succession intentions on firm performance. We suggest that family ownership has an inverted U-shaped relationship with firm performance in small-to-medium sized family firms. We also suggest that this relationship is interactively moderated by firm age and succession intentions. We further suggest that when family is a majority shareholder, a family firm with succession intention performs better than the one without succession intention and the performance difference between family firms with and without succession intention increases as firms age. The findings support our hypotheses.