Can family ownership influence firms' capital structure decisions?

Detalhes bibliográficos
Autor(a) principal: Medeiros, Catarina Lobo Moutinho Melo
Data de Publicação: 2015
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.14/17985
Resumo: The purpose of the present study is to endeavor the explanatory capacity of family ownership in determining the capital structure of the firms. Having this purpose in mind, we collect and analyze information for the period 2005-2013, regarding a sample of 194 family and non-family businesses, whose headquarters' location is in either European or North American countries. We obtain empirical evidence to conclude that i) non-family firms present higher leverage ratios compared to their family peers; and ii) non-family firms rely more on long-term debt than their family peers. Our study adds value to previous research since it compares companies from two different continents, (North) America and Europe, it analyzes how different firm characteristics may influence both leverage ratio and long-term debt to total debt and finally because it studies the impact of the financial crisis on the firms' financial results.
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spelling Can family ownership influence firms' capital structure decisions?Domínio/Área Científica::Ciências Sociais::Economia e GestãoThe purpose of the present study is to endeavor the explanatory capacity of family ownership in determining the capital structure of the firms. Having this purpose in mind, we collect and analyze information for the period 2005-2013, regarding a sample of 194 family and non-family businesses, whose headquarters' location is in either European or North American countries. We obtain empirical evidence to conclude that i) non-family firms present higher leverage ratios compared to their family peers; and ii) non-family firms rely more on long-term debt than their family peers. Our study adds value to previous research since it compares companies from two different continents, (North) America and Europe, it analyzes how different firm characteristics may influence both leverage ratio and long-term debt to total debt and finally because it studies the impact of the financial crisis on the firms' financial results.Bonfim, DianaVeritati - Repositório Institucional da Universidade Católica PortuguesaMedeiros, Catarina Lobo Moutinho Melo2015-07-08T13:34:12Z2015-04-1720152015-04-17T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10400.14/17985TID:201170221enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-12-26T01:36:58Zoai:repositorio.ucp.pt:10400.14/17985Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T18:15:02.418230Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Can family ownership influence firms' capital structure decisions?
title Can family ownership influence firms' capital structure decisions?
spellingShingle Can family ownership influence firms' capital structure decisions?
Medeiros, Catarina Lobo Moutinho Melo
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
title_short Can family ownership influence firms' capital structure decisions?
title_full Can family ownership influence firms' capital structure decisions?
title_fullStr Can family ownership influence firms' capital structure decisions?
title_full_unstemmed Can family ownership influence firms' capital structure decisions?
title_sort Can family ownership influence firms' capital structure decisions?
author Medeiros, Catarina Lobo Moutinho Melo
author_facet Medeiros, Catarina Lobo Moutinho Melo
author_role author
dc.contributor.none.fl_str_mv Bonfim, Diana
Veritati - Repositório Institucional da Universidade Católica Portuguesa
dc.contributor.author.fl_str_mv Medeiros, Catarina Lobo Moutinho Melo
dc.subject.por.fl_str_mv Domínio/Área Científica::Ciências Sociais::Economia e Gestão
topic Domínio/Área Científica::Ciências Sociais::Economia e Gestão
description The purpose of the present study is to endeavor the explanatory capacity of family ownership in determining the capital structure of the firms. Having this purpose in mind, we collect and analyze information for the period 2005-2013, regarding a sample of 194 family and non-family businesses, whose headquarters' location is in either European or North American countries. We obtain empirical evidence to conclude that i) non-family firms present higher leverage ratios compared to their family peers; and ii) non-family firms rely more on long-term debt than their family peers. Our study adds value to previous research since it compares companies from two different continents, (North) America and Europe, it analyzes how different firm characteristics may influence both leverage ratio and long-term debt to total debt and finally because it studies the impact of the financial crisis on the firms' financial results.
publishDate 2015
dc.date.none.fl_str_mv 2015-07-08T13:34:12Z
2015-04-17
2015
2015-04-17T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
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dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.14/17985
TID:201170221
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identifier_str_mv TID:201170221
dc.language.iso.fl_str_mv eng
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dc.format.none.fl_str_mv application/pdf
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repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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