Empirical studies examining the financing decisions of the firm focus exclusively on publicly held firms, not family-controlled firms despite their economic importance. This study investigates the external financing behavior of family-controlled firms, using a comprehensive sample of 777 large...

Empirical studies examining the financing decisions of the firm focus exclusively on publicly held firms, not family-controlled firms despite their economic importance. This study investigates the external financing behavior of family-controlled firms, using a comprehensive sample of 777 large...

This paper examines the motives of debt issuance in hot-debt market periods and its impact on capital structure over the period 1970–2006. We find that perceived capital market conditions as favorable, an indication of market timing, and adverse selection costs of equity (i.e., information...