Influence of Control and Family Management in the Indebtedness of Brazilian Open Business: a Quantitative Study
Autor(a) principal: | |
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Data de Publicação: | 2014 |
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/184 |
Resumo: | This research investigated the influence of the family on the debt of Brazilian open business companies. Although there is a vast national and international literature on capital structure, there are still doubts on the importance of family in business management. In Brazil, due to the large number of family businesses, it is even more evident the need to investigate the issue. The studied population was composed of companies listed on the BM&FBovespa, in 2010, and the final sample consisted of 356 companies. Six years were analyzed (2004-2009), in a total of 2,136 observations. The results show that the studied companies that are familiar or that have family management have become less indebted than others. This result is in accordance with national and international studies, according to which family firms tend to be more conservative in their investments, seeking to use more equity than third party capital. |
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Influence of Control and Family Management in the Indebtedness of Brazilian Open Business: a Quantitative StudyInfluência do Controle e da Gestão Familiar no Endividamento das Empresas Abertas Brasileiras: um Estudo QuantitativoFamily businessFamily managementCapital structureDebtEmpresa familiarGestão familiarEstrutura de capitalEndividamentoThis research investigated the influence of the family on the debt of Brazilian open business companies. Although there is a vast national and international literature on capital structure, there are still doubts on the importance of family in business management. In Brazil, due to the large number of family businesses, it is even more evident the need to investigate the issue. The studied population was composed of companies listed on the BM&FBovespa, in 2010, and the final sample consisted of 356 companies. Six years were analyzed (2004-2009), in a total of 2,136 observations. The results show that the studied companies that are familiar or that have family management have become less indebted than others. This result is in accordance with national and international studies, according to which family firms tend to be more conservative in their investments, seeking to use more equity than third party capital.Esta pesquisa investigou a influência da família no endividamento das empresas abertas brasileiras. Embora exista uma vasta literatura nacional e estrangeira sobre estrutura de capital, ainda restam dúvidas sobre a importância da família na gestão das empresas. No Brasil, devido ao grande número de empresas familiares, é ainda mais evidente a necessidade de se investigar o tema. A população estudada foram as empresas listadas na BMF&Bovespa, no ano de 2010, e a amostra final constituiu-se de 356 empresas. Foram analisados seis anos (de 2004 a 2009), num total de 2.136 observações. Os resultados mostram que as empresas estudadas que são familiares ou que possuem gestão familiar apresentam-se menos endividadas do que as outras. Esse resultado está de acordo com estudos nacionais e internacionais, segundo os quais as empresas familiares tendem a ser mais conservadoras em seus investimentos, procurando utilizar mais capital próprio do que de terceiros.FUCAPE Business Shool2014-11-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionPeer-reviewed ArticleArtigo revisado pelos paresapplication/pdfapplication/pdfhttp://www.bbronline.com.br/index.php/bbr/article/view/18410.15728/bbr.2014.11.6.3Brazilian Business Review; Vol. 11 No. 6 (2014): November to December 2014; 50-74Brazilian Business Review; v. 11 n. 6 (2014): Novembro a Dezembro de 2014; 50-741808-23861807-734Xreponame:BBR. Brazilian Business Review (English edition. Online)instname:Fucape Business School (FBS)instacron:FBSengporhttp://www.bbronline.com.br/index.php/bbr/article/view/184/275http://www.bbronline.com.br/index.php/bbr/article/view/184/276Segura, Liliane CristinaFormigoni, Henriqueinfo:eu-repo/semantics/openAccess2018-11-06T19:49:51Zoai:ojs.pkp.sfu.ca:article/184Revistahttps://www.bbronline.com.br/index.php/bbr/indexONGhttp://www.bbronline.com.br/index.php/bbr/oai|| bbronline@bbronline.com.br1808-23861808-2386opendoar:2018-11-06T19:49:51BBR. Brazilian Business Review (English edition. Online) - Fucape Business School (FBS)false |
dc.title.none.fl_str_mv |
Influence of Control and Family Management in the Indebtedness of Brazilian Open Business: a Quantitative Study Influência do Controle e da Gestão Familiar no Endividamento das Empresas Abertas Brasileiras: um Estudo Quantitativo |
title |
Influence of Control and Family Management in the Indebtedness of Brazilian Open Business: a Quantitative Study |
spellingShingle |
Influence of Control and Family Management in the Indebtedness of Brazilian Open Business: a Quantitative Study Segura, Liliane Cristina Family business Family management Capital structure Debt Empresa familiar Gestão familiar Estrutura de capital Endividamento |
title_short |
Influence of Control and Family Management in the Indebtedness of Brazilian Open Business: a Quantitative Study |
title_full |
Influence of Control and Family Management in the Indebtedness of Brazilian Open Business: a Quantitative Study |
title_fullStr |
Influence of Control and Family Management in the Indebtedness of Brazilian Open Business: a Quantitative Study |
title_full_unstemmed |
Influence of Control and Family Management in the Indebtedness of Brazilian Open Business: a Quantitative Study |
title_sort |
Influence of Control and Family Management in the Indebtedness of Brazilian Open Business: a Quantitative Study |
author |
Segura, Liliane Cristina |
author_facet |
Segura, Liliane Cristina Formigoni, Henrique |
author_role |
author |
author2 |
Formigoni, Henrique |
author2_role |
author |
dc.contributor.author.fl_str_mv |
Segura, Liliane Cristina Formigoni, Henrique |
dc.subject.por.fl_str_mv |
Family business Family management Capital structure Debt Empresa familiar Gestão familiar Estrutura de capital Endividamento |
topic |
Family business Family management Capital structure Debt Empresa familiar Gestão familiar Estrutura de capital Endividamento |
description |
This research investigated the influence of the family on the debt of Brazilian open business companies. Although there is a vast national and international literature on capital structure, there are still doubts on the importance of family in business management. In Brazil, due to the large number of family businesses, it is even more evident the need to investigate the issue. The studied population was composed of companies listed on the BM&FBovespa, in 2010, and the final sample consisted of 356 companies. Six years were analyzed (2004-2009), in a total of 2,136 observations. The results show that the studied companies that are familiar or that have family management have become less indebted than others. This result is in accordance with national and international studies, according to which family firms tend to be more conservative in their investments, seeking to use more equity than third party capital. |
publishDate |
2014 |
dc.date.none.fl_str_mv |
2014-11-01 |
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/184 10.15728/bbr.2014.11.6.3 |
url |
http://www.bbronline.com.br/index.php/bbr/article/view/184 |
identifier_str_mv |
10.15728/bbr.2014.11.6.3 |
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/184/275 http://www.bbronline.com.br/index.php/bbr/article/view/184/276 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
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. 11 No. 6 (2014): November to December 2014; 50-74 Brazilian Business Review; v. 11 n. 6 (2014): Novembro a Dezembro de 2014; 50-74 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 |
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1754732237497040896 |