Given the importance of family firms all over the world, our main objective is to study whether ownership concentration in the hands of family owners contributes to increase the market value of the firm. Additionally, we analyze whether family firms outperform nonfamily corporations. The...

This paper focuses on how a firm?s characteristics affect the market valuation of its research and development (R&D) spending. We derive a valuation model based on the capital market arbitrage condition. The estimation of this model by using the Generalized Method of Moments and data from the...

This paper is built upon the predictions of the catering theory of dividends, and examines whether investors? sentiments exert significant influence on corporate dividend policy. To achieve this aim, we propose a dividend model that incorporates a variable at a firm-level proxing for the...

This paper provides evidence on how the diversification strategy impact on the firm value. Furthermore the paper studies the effect of the levels and types of diversification on the firm value. To achieve this aim, we propose a value model that incorporates the level and type of diversification....