This paper investigates whether family ownership affects a firm’s cost behavior and profitability. We find that in … cost”). This result is robust to alternative definitions of family firms. The sharp cost reduction of family firms makes …

relationship to size requires untangling cost and profit from decisions about risk versus expected return because both cost and … charters from episodes of financial distress, and they also have an incentive to increase risk to exploit the cost … profit are functions of endogenous risk-taking. This chapter gives an overview of two general empirical approaches to …

market value of a firm. This measure focuses on the ability of business organizations to create return beyond cost of … as Earning per Share and cash flow generated by operations is the high concern for profit making and liquidity in firms …

to be successful. I further argue that the information revealed in a profit-and-loss economy is socially beneficial …