González, Maximiliano; Guzmán, Alexander; Pombo, Carlos; … - In: Journal of Business Research 66 (2013) 11, pp. 2308-2320
This study examines the effect of family management, ownership, and control on capital structure for 523 Colombian firms between 1996 and 2006. The study finds that debt levels tend to be lower for younger firms when the founder or one of his heirs acts as manager, but trends higher as the firm...