We analyze the propensity to hedge of closely-held family firms and the effect of a CEO's identity in explaining hedging decisions. We find that family involvement in CEO positions positively affects the likelihood of hedging. The effect is stronger when the CEO belongs to the founding family,...

In countries where holding control takes on much relevance it is arguable that capital structure choices are shaped in response to ownership characteristics. These issues are explored in the Italian context being dominated by pyramidal groups and majority-controlled firms. The results show that...

We analyze the propensity to hedge of closely-held family firms and the effect of a CEO's identity in explaining hedging decisions. We find that family involvement in CEO positions positively affects the likelihood of hedging. The effect is stronger when the CEO belongs to the founding family,...