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stake can reduce investment in family firms, by reducing the future income they can pledge to external financiers. Using a …-2006 interval, we find that stricter inheritance law is associated with lower investment in family firms, while it leaves investment … unaffected in non-family firms. Moreover, as predicted by the model, inheritance law affects investment only in family firms that …
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intermediate protection, management is delegated to a professional, but the family stays on as large shareholders to monitor the … the family. This theory of separation of ownership from management includes the Anglo-Saxon and the Continental European …
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This study investigates the prevalence and extent of altruism by examining the relationship between parents' and their adult children's subjective well-being in a data set extracted from the German Socio-Economic Panel. In order to segregate the share of parents with altruistic preferences from...
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