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| Tekijä: | Schulze, W. S. Lubatkin, M. H. Dino, R. N. |
| Otsikko: | Exploring the agency consequences of ownership dispersion among the directors of private family firms |
| Lehti: | Academy of Management Journal
2003 : APR, VOL. 46:2, p. 179-194 |
| Asiasana: | Small business Family firms Agencies Company ownership |
| Kieli: | eng |
| Tiivistelmä: | Using an agency-theoretic lens and insights drawn from the behavioral economics and family business literatures, the authors developed hypotheses concerning the effect of dispersion of ownership on the use of debt by private family-owned and family-managed firms. A field study of 1464 family firms was conducted. Results suggest that, during periods of market growth, the relationship between the use of debt and the dispersion of ownership among directors at family firms can be graphed as a U-shaped curve. |
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