Publicación: Financing constraints and growth of private family firms: Evidence from different legal origins
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2022-01
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info:eu-repo/semantics/openAccess
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Elsevier
Resumen
We investigate whether family control informs the extent to which business growth depends on internal finance. Our results are based on a sample of private firms from two regions in which family ownership prevails: Western Europe and East Asia. The countries covered nonetheless differ from each other in their legal origin. We find that the growth of private family firms is less reliant on internal finance. The beneficial effect of family control is especially pronounced in countries where external lenders are more protected. Family control and a protective institutional environment therefore complement each other to facilitate business growth.
Descripción
The registered version of this article, first published in “Finance Research Letters, 44, 102034", is available online at the publisher's website: Elsevier, https://doi.org/10.1016/j.frl.2021.102034
La versión registrada de este artículo, publicado por primera vez en “Finance Research Letters, 44, 102034", está disponible en línea en el sitio web del editor: Elsevier, https://doi.org/10.1016/j.frl.2021.102034
La versión registrada de este artículo, publicado por primera vez en “Finance Research Letters, 44, 102034", está disponible en línea en el sitio web del editor: Elsevier, https://doi.org/10.1016/j.frl.2021.102034
Categorías UNESCO
Palabras clave
Business growth, Financing constraints, Family control, Institutional environment, Private firms
Citación
Doucet, P., & Requejo, I. (2022). Financing constraints and growth of private family firms: Evidence from different legal origins. Finance Research Letters, 44. https://doi.org/10.1016/J.FRL.2021.102034
Centro
Facultades y escuelas::Facultad de Ciencias Económicas y Empresariales
Departamento
Organización de Empresas