's capital (as part of intercorporate investment). Using OLS regression, this analysis does not find evidence for the variables …

We examine the relation between family presence and corporate investment policy. Our analysis centers on two incentives … that potentially lead to differences in investment policy between family firms and nonfamily firms: family owners' risk … aversion and their real option to invest. Our findings indicate that (1) investment patterns differ between family and …

of investors. We found that the dissatisfaction after a loss is more intense than the satisfaction after a profit, and …