Di Giuli, Alberta; Caselli, Stefano; Gatti, Stefano - In: Journal of Banking & Finance 35 (2011) 11, pp. 2931-2944
We study the drivers of financial sophistication in small family firms. Sophistication is defined as the use of non-basic financial products such as options, swaps, debt restructuring, and mergers and acquisitions (M&A) advisory services. Our analysis is based on a unique dataset with detailed...