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...

This study examines the relationship between financial performance and family involvement for 523 listed and non-listed Colombian firms over 1996–2006. Using a detailed database and performing several panel data regression models, we find that family firms exhibit better financial performance...

We examine for the first time the association of different measures of ownership and control, and separation ratios with firm’s value and performance for 108 non-financial firms that traded their stock during the period 1998 to 2002. We found that large blockholders exert a positive influence...