This research examines the effectiveness of Family Constitution or Family Protocol agreements in mitigating each type of agency conflict in family firms. We performed a qualitative analysis, through a case study, and found that the succession process is the main driver for implementing this...

We analyzed growth in family and non-family Spanish venture capital-backed firms. When the venture capital (VC) firm does not hold a majority stake, the usual risk aversion attitudes in family firms may lead to conflicts between the management cultures of the existing and new shareholders, which...

We analyze growth in family and non-family Spanish venture capital-backed firms. When the venture capital firm (VC) does not hold a majority stake, the usual risk aversion attitudes in family firms may lead to conflicts between the management cultures of the existing and new shareholders, which...

Acquiring firm shareholders place greater value on the purchase of unlisted firms (2.71%) than listed ones (0.59%) for Mergers and Acquisitions (M&As) performed by European listed firms from 2002 to 2007.Managerial opportunism is a determinant in the acquisition of listed firms, occurring with...

The aim of this paper is to study the influence of the Merger and Acquisition (M&A) payment method decision on the acquiring shareholders' M&A valuation, considering the relevance of the acquiring ownership structure and the legal and institutional environment, and the possibility that the...

The aim of this paper is to examine the importance of the different theoretical proposals that explain a firm's capital structure in relation to the existence of an optimal debt ratio, the preference of the firm for internal financing and the consideration of financial constraints. The contrast...