search query: @indexterm Capital structure of companies / total: 353
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| Author: | Anderson, R. C. Mansi, S. A. Reeb, D. M. |
| Title: | Founding family ownership and the agency cost of debt |
| Journal: | Journal of Financial Economics
2003 : MAY, VOL. 68:2, p. 263-285 |
| Index terms: | Capital structure of companies Corporate governance Debt Agencies |
| Freeterms: | ownership |
| Language: | eng |
| Abstract: | The authors find that founding family ownership is common in large, publicly traded firms and is related to a lower cost of debt financing. The results are consistent with the idea that founding family firms have incentive structures that results in fewer agency conflicts btw. equity and debt claiments. This suggests that bond holders view founding family ownership as an organization structure that better protects their interests. |
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