In this paper we examine the relationship between ownership differences and small firms' financial policies using a survey of U.S. companies. The study finds that financial policies differ according to the type of ownership (private versus public) and by the ownership differences (family-owned,...

In 1975 I co-authored a paper that documented the influence of industry on corporate capital structure with my colleague Dave Scott. By current standards our study was based on an exceedingly small sample and an unsophisticated research design. However, at the time the paper helped solidify the...