The Life Cycle of Family Ownership: International Evidence

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Does Family Control Matter? International Evidence from the 2008-2009 Financial Crisis (2013, unknown): “…La Porta, Lopez de Silanes, and Shleifer 1999; Claessens et al. 2002; Faccio and Lang 2002; Volpin 2002; Lins 2003; Durnev and Kim 2005; Bennedsen et al. 2007; Bertrand et al. 2008; Almeida et al. 2011; Ellul, Pagano, and Panunzi 2010; Masulis, Pham, and Zein 2001; Franks et al. 2012). interest.”
Do Family Firms Use Dividend Policy as a Governance Mechanism? Evidence from the Euro Zone (2012, result): “These results confirm our line of reasoning and contradict previous works that find a substitution effect between a firm’s ownership structure and its dividend policy in relation to alleviating agency conflicts (Goergen et al., 2005; Moh’d et al., 1995). Our findings are also at odds with the empiri”
Capital structure decisions in family firms: empirical evidence from a bank-based economy (2011, unknown): “a tradition where family firms are considered to be the backbone of the economy (Fohlin 2007) and (4) still concentrated ownership patterns with a large amount of family firms even among listed companies (Franks et al. 2009).”
Article Commentary: Family, Wealth, and Governance: An Agency Account (2015, background): “Furthermore, our study makes rather sweeping assumptions about the role of law and the institutional context in shaping agency costs (Foley & Greenwood, 2010; Franks et al., 2012).”