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Publicação
The Impact of Family Control on Capital Structure on Emerging Economies
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Orientador(es)
Resumo(s)
This work aims to understand the impact of family control on firms’ capital structure in emerging markets. Multinational firms from Latin American countries are analyzed from 2011 to 2021, using dynamic models. The results show that family firms are singular compared to non-family ones. Family control positively impacts total and long-term debt. Moreover, corporate governance variables are also relevant to explain capital structure. Women’s presence on the board of directors contributes to decrease firms’ indebtedness. Firms’ specific characteristics are also relevant in explaining debt choices. Finally, macroeconomic factors impact the firms’ capital structure differently than developed countries.
Descrição
Palavras-chave
Capital structure corporate governance emerging economies family control family firms leverage
Contexto Educativo
Citação
Lisboa, I., Costa, M., & Burgos, L. (2025). The Impact of Family Control on Capital Structure on Emerging Economies. Latin American Business Review, 26(1), 65–88. https://doi.org/10.1080/10978526.2025.2462850
Editora
Routledge