Please use this identifier to cite or link to this item:
Title: Corporate investment policy in the context of family firms
Author: Vieira, Elisabete F. Simões
Keywords: Corporate investment
Investment policy
Family firms
Panel data
Issue Date: 2012
Publisher: Odessa Broker House Ltd
Abstract: This paper studies the impact of family-controlled firms on firms’ investment policy considering the 1999-2010 period. The results indicate that changes in firms’ investments are sensitive to internal resources, suggesting that corporate investments are constrained by internal liquidity. Comparing the family and the non-family firms’ results, we conclude that the investment cash flow sensitivity is higher for family controlled firms than for non-family counterparts, finding also some evidence that family firms’ corporate investment is more negatively related to crisis than non-family investments. During crisis period, family firms take a more conservative investment policy.
Peer review: yes
ISSN: 2225-3467
Publisher Version:
Appears in Collections:GOVCOPP - Artigos

Files in This Item:
File Description SizeFormat 
Paper_Investment Policy_FF_JAMI.pdfDocumento principal77.67 kBAdobe PDFrestrictedAccess

Formato BibTex MendeleyEndnote Degois 

Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.