An Analysis of Risk-Taking in Family Firms Listed in B3
Autor(a) principal: | |
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Data de Publicação: | 2020 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | eng por |
Título da fonte: | BBR. Brazilian Business Review (English edition. Online) |
Texto Completo: | http://www.bbronline.com.br/index.php/bbr/article/view/593 |
Resumo: | This work analyses the statistical relationship between family firms and risk-taking. It seeks to contribute to the growing literature on family firms by reviewing the literature on the characteristics that distinguish them from non-family firms, aiming to innovate by approaching a less-used construct for this type of firm: risk-taking. The literature on both constructs is reviewed, using theoretical and empirical works to develop the following research hypothesis: tfamily firms are more averse to risk-taking than non-family firms. This hypothesis is tested empirically using econometrics procedures in a sample with 1188 observations from publicly traded companies listed on B3. The results indicate that the presence of family firms negatively affect risk-taking. Thus, it can be concluded that family firms seem to be less prone to risk-taking than non-family firms. |
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BBR. Brazilian Business Review (English edition. Online) |
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An Analysis of Risk-Taking in Family Firms Listed in B3Uma Análise da Tomada de Risco em Firmas Familiares Listadas na B3Family firmsRisk-taking,Decision-makingFirmas familiaresTomada de riscoTomada de decisãoThis work analyses the statistical relationship between family firms and risk-taking. It seeks to contribute to the growing literature on family firms by reviewing the literature on the characteristics that distinguish them from non-family firms, aiming to innovate by approaching a less-used construct for this type of firm: risk-taking. The literature on both constructs is reviewed, using theoretical and empirical works to develop the following research hypothesis: tfamily firms are more averse to risk-taking than non-family firms. This hypothesis is tested empirically using econometrics procedures in a sample with 1188 observations from publicly traded companies listed on B3. The results indicate that the presence of family firms negatively affect risk-taking. Thus, it can be concluded that family firms seem to be less prone to risk-taking than non-family firms.O presente trabalho aborda a relação estatística entre firmas familiares e tomada de risco. Procura-se contribuir para a crescente literatura em firmas familiares ao realizar uma revisão da literatura das características que as distinguem de firmas não familiares, buscando inovar ao pesquisar um construto pouco trabalhado com esse tipo de firma: a tomada de risco. Revisa-se a literatura sobre ambos os construtos, utilizando pressuposto teórico e trabalhos empíricos para formular-se a seguinte hipótese de pesquisa: firmas familiares são mais avessas à tomada de riscos do que firmas não familiares. Essa hipótese é testada empiricamente através de procedimentos econométricos em uma amostra de 1188 observações de companhias de capital aberto listadas na B3. Os resultados indicam um efeito negativo da presença familiar na tomada de risco das firmas. Conclui-se que os resultados corroboram a hipótese de que firmas familiares seriam mais avessas à tomada de riscos que firmas não familiares.FUCAPE Business Shool2020-07-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionPeer-reviewed ArticleArtigo revisado pelos paresapplication/pdfapplication/pdfhttp://www.bbronline.com.br/index.php/bbr/article/view/59310.15728/bbr.2020.17.4.3Brazilian Business Review; Vol. 17 No. 4 (2020): July to August 2020; 399-418Brazilian Business Review; v. 17 n. 4 (2020): Julho a Agosto 2020; 399-4181808-23861807-734Xreponame:BBR. Brazilian Business Review (English edition. Online)instname:Fucape Business School (FBS)instacron:FBSengporhttp://www.bbronline.com.br/index.php/bbr/article/view/593/889http://www.bbronline.com.br/index.php/bbr/article/view/593/890Copyright (c) 2020 Brazilian Business Reviewhttp://creativecommons.org/licenses/by/4.0info:eu-repo/semantics/openAccessVoelcker, GabrielMacagnan, CleaVancin, Daniel2020-07-07T21:51:05Zoai:ojs.pkp.sfu.ca:article/593Revistahttps://www.bbronline.com.br/index.php/bbr/indexONGhttp://www.bbronline.com.br/index.php/bbr/oai|| bbronline@bbronline.com.br1808-23861808-2386opendoar:2020-07-07T21:51:05BBR. Brazilian Business Review (English edition. Online) - Fucape Business School (FBS)false |
dc.title.none.fl_str_mv |
An Analysis of Risk-Taking in Family Firms Listed in B3 Uma Análise da Tomada de Risco em Firmas Familiares Listadas na B3 |
title |
An Analysis of Risk-Taking in Family Firms Listed in B3 |
spellingShingle |
An Analysis of Risk-Taking in Family Firms Listed in B3 Voelcker, Gabriel Family firms Risk-taking, Decision-making Firmas familiares Tomada de risco Tomada de decisão |
title_short |
An Analysis of Risk-Taking in Family Firms Listed in B3 |
title_full |
An Analysis of Risk-Taking in Family Firms Listed in B3 |
title_fullStr |
An Analysis of Risk-Taking in Family Firms Listed in B3 |
title_full_unstemmed |
An Analysis of Risk-Taking in Family Firms Listed in B3 |
title_sort |
An Analysis of Risk-Taking in Family Firms Listed in B3 |
author |
Voelcker, Gabriel |
author_facet |
Voelcker, Gabriel Macagnan, Clea Vancin, Daniel |
author_role |
author |
author2 |
Macagnan, Clea Vancin, Daniel |
author2_role |
author author |
dc.contributor.author.fl_str_mv |
Voelcker, Gabriel Macagnan, Clea Vancin, Daniel |
dc.subject.por.fl_str_mv |
Family firms Risk-taking, Decision-making Firmas familiares Tomada de risco Tomada de decisão |
topic |
Family firms Risk-taking, Decision-making Firmas familiares Tomada de risco Tomada de decisão |
description |
This work analyses the statistical relationship between family firms and risk-taking. It seeks to contribute to the growing literature on family firms by reviewing the literature on the characteristics that distinguish them from non-family firms, aiming to innovate by approaching a less-used construct for this type of firm: risk-taking. The literature on both constructs is reviewed, using theoretical and empirical works to develop the following research hypothesis: tfamily firms are more averse to risk-taking than non-family firms. This hypothesis is tested empirically using econometrics procedures in a sample with 1188 observations from publicly traded companies listed on B3. The results indicate that the presence of family firms negatively affect risk-taking. Thus, it can be concluded that family firms seem to be less prone to risk-taking than non-family firms. |
publishDate |
2020 |
dc.date.none.fl_str_mv |
2020-07-01 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article Artigo revisado pelos pares |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://www.bbronline.com.br/index.php/bbr/article/view/593 10.15728/bbr.2020.17.4.3 |
url |
http://www.bbronline.com.br/index.php/bbr/article/view/593 |
identifier_str_mv |
10.15728/bbr.2020.17.4.3 |
dc.language.iso.fl_str_mv |
eng por |
language |
eng por |
dc.relation.none.fl_str_mv |
http://www.bbronline.com.br/index.php/bbr/article/view/593/889 http://www.bbronline.com.br/index.php/bbr/article/view/593/890 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2020 Brazilian Business Review http://creativecommons.org/licenses/by/4.0 info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2020 Brazilian Business Review http://creativecommons.org/licenses/by/4.0 |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf application/pdf |
dc.publisher.none.fl_str_mv |
FUCAPE Business Shool |
publisher.none.fl_str_mv |
FUCAPE Business Shool |
dc.source.none.fl_str_mv |
Brazilian Business Review; Vol. 17 No. 4 (2020): July to August 2020; 399-418 Brazilian Business Review; v. 17 n. 4 (2020): Julho a Agosto 2020; 399-418 1808-2386 1807-734X reponame:BBR. Brazilian Business Review (English edition. Online) instname:Fucape Business School (FBS) instacron:FBS |
instname_str |
Fucape Business School (FBS) |
instacron_str |
FBS |
institution |
FBS |
reponame_str |
BBR. Brazilian Business Review (English edition. Online) |
collection |
BBR. Brazilian Business Review (English edition. Online) |
repository.name.fl_str_mv |
BBR. Brazilian Business Review (English edition. Online) - Fucape Business School (FBS) |
repository.mail.fl_str_mv |
|| bbronline@bbronline.com.br |
_version_ |
1754732239580561408 |