Family firms and debt : risk aversion versus risk of losing control

This study examines the effect of family management, ownership, and control on capital structure for 523 Colombian firms between 1996 and 2006. The study finds that debt levels tend to be lower for younger firms when the founder or one of his heirs acts as manager, but trends higher as the firm ages...

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Autores:
González Ferrero, Maximiliano
Guzmán Vásquez, Alexander
Pombo Vejarano, Carlos
Trujillo Dávila , María Andrea
Tipo de recurso:
Article of investigation
Fecha de publicación:
2013
Institución:
Colegio de Estudios Superiores de Administración
Repositorio:
Repositorio CESA
Idioma:
eng
OAI Identifier:
oai:repository.cesa.edu.co:10726/5134
Acceso en línea:
http://hdl.handle.net/10726/5134
https://doi.org/10.1016/j.jbusres.2012.03.014
Palabra clave:
Family control
Capital structure
Colombia
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