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The stock performance of family firms in the Portuguese market
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Orientador(es)
Resumo(s)
The aim of this study is to analyse the stock performance of family firms from 1999 to 2008 in the Portuguese stock market, where these kinds of firms are frequently found. Consistent with previous research, we employ a methodology based on a portfolio formation approach. Furthermore, we study the performance of individual stocks using a panel data analysis. Our findings show that family firms outperform nonfamily ones, especially those family firms of smaller size. These results are relevant for investors, academics and the professional managers of these companies.
Descrição
Palavras-chave
Family firms Founder effect Size effect Stocks return Asset pricing
Contexto Educativo
Citação
Editora
Journal Applied Financial Economics