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The persistent ownership concentration of private firms

Bøhren, Øyvind; Iancu, Diana; Radulescu, Georgiana; … - 2020

We find that ownership changes much less over time in private firms than in public firms. The average largest shareholder in private (public) Norwegian firms keeps the same stake in 82% (14%) of two consecutive years. In private firms past ownership dominates ownership determinants proposed in...

Persistent link: https://www.econbiz.de/10012433547

Insider trading in family firms : impact of family ties and management involvement

Morkoetter, Stefan; Schori, Tobias H.; Zellweger, Thomas - 2021

We study corporate insider trading and information leakages within family firms. We find that the prof-itability of insider purchases of family insiders is higher compared to those of nonfamily insiders. In contrast, the profitability of insider sales of family insiders is lower compared to...

Persistent link: https://www.econbiz.de/10012609750

Family Control, Stock Price Levels, and Stock Split Activity

Belot, Francois - 2018

We investigate the impact of family control on both the share price level and the decision to split the firm's stock. Low stock prices are associated with higher volatility and have been shown to attract more speculative trading, which may force managers to excessively focus on short-term...

Persistent link: https://www.econbiz.de/10012936093

The Effects of the Financial Crisis on Delisting Decisions : Evidence from Family and Non-Family Firms in Germany

Bessler, Wolfgang - 2018

The global financial crisis significantly affected the viability of the financial system and the structure of equity markets. In this study, we investigate the phenomenon of family and non-family firms' delisting decisions from the Prime Standard, the highest regulated stock market segment in...

Persistent link: https://www.econbiz.de/10012907626

Family Comes First : Reproductive Health and the Gender Gap in Entrepreneurship

Zandberg, Jonathan - 2020

Better access to reproductive healthcare increases women's propensity to become entrepreneurs. Access correlates positively with female entrepreneurial activity and negatively with female entrepreneurial age. Examining firm size and personal income suggests it also improves success of female-led...

Persistent link: https://www.econbiz.de/10012849706

Regionale Bedeutung von Familienunternehmen in Westdeutschland (Regional Distribution of Family Firms in West Germany)

Spiegel, Frank; Block, Jorn H. - 2014

German Abstract: Familienunternehmen wird eine hohe Bedeutung für die deutsche Wirtschaft beigemessen. In diesem … Artikel untersuchen wir auf Kreisebene die regionale Verteilung von Familienunternehmen in Westdeutschland. Unsere empirischen … Untersuchungen zeigen, dass Familienunternehmen eher in ländlichen Regionen, jedoch mit Nähe zu Oberzentren, zu finden sind. In …

Persistent link: https://www.econbiz.de/10014174803

The Role of Non-Family Managers in Promoting Business Continuity in Family Owned Enterprises : Practical Conflict Resolution Techniques for Independent Managers and Non-Executive D...

Finch, Nigel - 2006

This paper describes the conflict that is typical in a family business and highlights some of the major factors that make family business conflict unique from other types of interpersonal conflict in the workplace. Failure to adequately control conflict in family business may contribute to the...

Persistent link: https://www.econbiz.de/10014058247

CEOs in Family Firms : Does Junior Know What He's Doing?

Pinheiro, Roberto - 2011

We model the evolution of CEO quality in family firms. Agents learn about their own qualities over time by observing the successful outcome of their own actions, while failures drive agents out of the market. We show that joining the family business, while reducing the probability of failure,...

Persistent link: https://www.econbiz.de/10013119706

Audit Quality : The Role of Board Structure in Family Firms

Niskanen, Mervi - 2011

This study investigates the role that board structure has on the demand for audit quality in connection with family ownership in a sample of private firms. In addition to this, we also shed light on whether ownership structure and board structure are substitute mechanisms in resolving agency...

Persistent link: https://www.econbiz.de/10013119885

Die Kapitalmarktfähigkeit von Familienunternehmen - Unternehmensfinanzierung über Schuldschein, Anleihe und Börsengang (Capital Market Financing of Family Firms)

Achleitner, Ann‐Kristin - 2011

The paper analyzes debt and equity capital market instruments with respect to their suitability for family firms. It highlights and evaluates different aspects in the decision process of family firms regarding the use of capital market financing. The results are based on a qualitative analysis...

Persistent link: https://www.econbiz.de/10013128179