Founding Family Ownership and the Agency Cost of Debt

By Ronald C. Anderson, Sattar A. Mansi, David M. Reeb. 2003

1,761 citations recorded by the source corpus.

Subfields: Accounting, Organizational Behavior and Human Resource Management

View Paper: https://www.semanticscholar.org/paper/ff6a5c1572e1e4dbb667f0801d7273740a1a6e41

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In Accounting

In Organizational Behavior and Human Resource Management

Citations in the corpus

Familial capitalism in global institutional contexts: Implications for corporate governance and entrepreneurship in East Asia (2009, background): “In certain contexts familial based capitalism contributes to wealth creation, entrepreneurship, job generation, and competitiveness (Anderson & Reeb, 2003; Anderson, Mansi, & Reeb, 2003 ; M iller L Villalonga & Amit, 2006).”
Control/ownership structure, creditor rights protection, and the cost of debt financing: International evidence (2010, background): “While some recent studies analyze the relationship between governance mechanisms and debt costs, (Sengupta, 1998; Bhojraj and Sengupta, 2003; Anderson et al., 2003; Mansi et al., 2004; Ashbaugh et al., 2006), their evidence is drawn from the US, and thus cannot be generalized to other countries…”
Multiple large shareholders, control contests, and implied cost of equity (2008, background): “Anderson et al. (2003) show that, in large U.S. firms, minority shareholders benefit from the presence of family control.”
Capital structure decisions in family firms: empirical evidence from a bank-based economy (2011, positive): “Following the existing literature (Anderson et al. 2003; Villalonga and Amit 2006; Andres 2008), our definition of a family firm is based on the ownership, management and supervisory board participation of the founding family.”
Auditor Choice and Audit Fees in Family Firms: Evidence from the S&P 1500 (2013, background): “6 For example, compared to non-family firms, family firms perform better (Anderson and Reeb 2003), have lower cost of debt financing (Anderson et al. 2003), and provide better earnings quality (Wang 2006; Ali et al.”