Family business literature shows that family and nonfamily firms differ with respect to their financial reporting decisions. However, although the literature on financial reporting in fami - ly firms has developed over the last ten years, it is mostly oriented towards earnings management and...

Based on the agency theory, this paper analyzes whether family firms pay more dividends compared to no-family firms and identifies whether the board composition affects the dividend policy. Brazil and Chile have established mandatory dividends, retain lower cash holdings, pay higher dividends...