Ntoung, Lious Agbor Tabot; de Oliveira, Helena Maria Santos - In: Journal of Risk and Financial Management 13 (2020) 1, pp. 1-18
and risk choices of family and non-family firms. Using a panel data set of 888 firms and 7104 firm-year observations of … structure than those of non-family owned businesses. This indicates that most family firms use less debt financing than non-family … firms, and as such maintain a lower level of debt. Secondly, family firms demonstrate lower risk as illustrated by the …