Borralho, João Miguel Capela; Duarte, Maria Isabel - In: European journal of family business 12 (2022) 2, pp. 124-136
The present study analyzes dividends paid in unlisted family and non-family businesses, exploring factors that lead to … indicates that family businesses, as a result of the greater proximity of the family to the business, pay lower dividends …. However, we found evidence of higher dividends paid in pyramid structures, susceptible to higher agency costs, both in family …