The IRMA Community
Newsletters
Research IRM
Click a keyword to search titles using our InfoSci-OnDemand powered search:
|
Leverage and Family Firms: A Multi-Theoretical Approach
Abstract
This chapter analyses the relationship between ownership structure and leverage, providing an integrated theoretical approach that combines traditional financial theories, agency theory, and recently developed theories relating to non-financial preferences. The results show that, after controlling for endogeneity, being a family firm has a positive effect on the propensity to incur debt. These findings add to the existing body of literature and underline the need for a multi-theoretical approach when explaining the capital structure of family firms. The authors apply panel data methodology to control for individual heterogeneity of family firms. The chapter uses a sample of Spanish firms operating in the tourism industry.
Related Content
Rehmat Shah, Rana Yassir Hussain, Hira Irshad.
© 2024.
21 pages.
|
Malik Waqar Ahmed, Haroon Hussain, Hammad Hassan Mirza, Ghulam Ali Bhatti.
© 2024.
17 pages.
|
Burak Nedim Aktaş.
© 2024.
23 pages.
|
Rani Jha, Sidharth Mishra, Avinash Sharma.
© 2024.
15 pages.
|
Tugçe Şimşek, Ahmet Bahadır Şimşek.
© 2024.
25 pages.
|
George Kassar.
© 2024.
15 pages.
|
Andi Cudai Nur, Komal Khalid.
© 2024.
19 pages.
|
|
|