The effect of family control and management on performance, capital structure, cash holding, and cash dividends

Página do item simplificado
dc.contributor.authorPortal M.T.
dc.contributor.authorBasso L.F.C.
dc.date.accessioned2024-03-13T00:56:25Z
dc.date.available2024-03-13T00:56:25Z
dc.date.issued2015
dc.description.abstract© 2015, Virtus Interpress. All right rserved.This study investigates the effect of family firm on corporate performance and financial policy (capital structure, cash holding, and cash dividends). Using a sample of Brazilian firms, the study uses a treatment effect model to address self-selection and endogeneity problems. The results show that family firm has a negative net effect on performance. Family control has an effect on financial policies that indicate a aversive behavior to preserve control. The results indicate less problem of free cash flow and more risk-taking behavior in family-manage companies, suggesting that such aversion behavior is reduced when the family controls and manages the firm. This is the first study that takes into account the effect of family firm behavior through multiple financial policies.
dc.description.firstpage1134
dc.description.issuenumber1CONT10
dc.description.lastpage1149
dc.description.volume13
dc.identifier.doi10.22495/cocv13i1c10p2
dc.identifier.issn1810-3057
dc.identifier.urihttps://dspace.mackenzie.br/handle/10899/36154
dc.relation.ispartofCorporate Ownership and Control
dc.rightsAcesso Aberto
dc.subject.otherlanguageCapital structure
dc.subject.otherlanguageCash holdings
dc.subject.otherlanguageDividends
dc.subject.otherlanguageFamily firm
dc.subject.otherlanguagePerformance
dc.subject.otherlanguageRisk aversion
dc.subject.otherlanguageRisk taking
dc.titleThe effect of family control and management on performance, capital structure, cash holding, and cash dividends
dc.typeArtigo
local.scopus.citations5
local.scopus.eid2-s2.0-84949748852
local.scopus.updated2024-05-01
local.scopus.urlhttps://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=84949748852&origin=inward
Arquivos
Coleções
Artigos de periódico