Family firm’s heterogeneity and firm risk

Lisboa, Inês; Miralles-Quirós, Maria del Mar

Publication

Family firm’s heterogeneity and firm risk

2015Journal article

dc.contributor.author	Lisboa, Inês
dc.contributor.author	Miralles-Quirós, Maria del Mar
dc.date.accessioned	2018-04-27T14:15:31Z
dc.date.available	2018-04-27T14:15:31Z
dc.date.issued	2015
dc.description.abstract	The behavioral agency theory suggests that family firms present less risk than non-family firms to protect their socioemotional wealth. Most studies analyzing this field focus on the bank sector or the US economy. This study aims to examine whether there are differences in risk between family and non-family firms using Portuguese listed firms during fourteen years. Moreover we provide new evidence taking into account firms’ heterogeneities. Family and non-family firms are not homogeneous groups and the firm’s growth opportunities, age and size can be moderators of the relationship between family control and firm risk. We also analyze the effect on risk of family control using family ownership and the F-PEC scale. Our overall results strongly evidence that firms’ heterogeneities play an important role in firm’s risk exposure. These findings are relevant for institutional and individual investors as well as for the professional managers of these firms.	pt_PT
dc.description.version	info:eu-repo/semantics/publishedVersion	pt_PT
dc.identifier.issn	0006-6249
dc.identifier.uri	http://hdl.handle.net/10400.8/3217
dc.language.iso	eng	pt_PT
dc.peerreviewed	yes	pt_PT
dc.publisher	Boletín de Estudios Económicos	pt_PT
dc.relation.publisherversion	https://dialnet.unirioja.es/servlet/articulo?codigo=5055238	pt_PT
dc.rights.uri	http://creativecommons.org/licenses/by-nc-nd/4.0/	pt_PT
dc.subject	Family firms	pt_PT
dc.subject	Firm risk	pt_PT
dc.subject	Heterogeneity	pt_PT
dc.subject	F-PEC scale	pt_PT
dc.title	Family firm’s heterogeneity and firm risk	pt_PT
dc.type	journal article
dspace.entity.type	Publication
oaire.citation.endPage	157	pt_PT
oaire.citation.issue	214	pt_PT
oaire.citation.startPage	139	pt_PT
oaire.citation.title	Boletín de estudios económicos	pt_PT
oaire.citation.volume	70	pt_PT
person.familyName	Lisboa
person.givenName	Inês
person.identifier	2201979
person.identifier.ciencia-id	5510-48F2-54DF
person.identifier.orcid	0000-0003-2802-2589
person.identifier.scopus-author-id	55582040700
rcaap.rights	closedAccess	pt_PT
rcaap.type	article	pt_PT
relation.isAuthorOfPublication	d738c31a-5c43-42ad-8643-e7349164d0e4
relation.isAuthorOfPublication.latestForDiscovery	d738c31a-5c43-42ad-8643-e7349164d0e4