Influence of Control and Family Management in the Indebtedness of Brazilian Open Business: a Quantitative Study
This research investigated the influence of the family on the debt of Brazilian open business companies. Although there is a vast national and international literature on capital structure, there are still doubts on the importance of family in business management. In Brazil, due to the large number...
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FUCAPE Business School
2014
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oai:doaj.org-article:216e6a0a79b04014a171857b1153b8dc2021-11-11T15:48:06ZInfluence of Control and Family Management in the Indebtedness of Brazilian Open Business: a Quantitative Study1807-734Xhttps://doaj.org/article/216e6a0a79b04014a171857b1153b8dc2014-01-01T00:00:00Zhttp://www.redalyc.org/articulo.oa?id=123032647003https://doaj.org/toc/1807-734XThis research investigated the influence of the family on the debt of Brazilian open business companies. Although there is a vast national and international literature on capital structure, there are still doubts on the importance of family in business management. In Brazil, due to the large number of family businesses, it is even more evident the need to investigate the issue. The studied population was composed of companies listed on the BM&FBovespa, in 2010, and the final sample consisted of 356 companies. Six years were analyzed (2004-2009), in a total of 2,136 observations. The results show that the studied companies that are familiar or that have family management have become less indebted than others. This result is in accordance with national and international studies, according to which family firms tend to be more conservative in their investments, seeking to use more equity than third party capital.Liliane Cristina SeguraHenrique FormigoniFUCAPE Business Schoolarticlefamily businessfamily managementcapital structuredebtBusinessHF5001-6182ENPTBBR: Brazilian Business Review, Vol 11, Iss 6, Pp 50-74 (2014) |
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DOAJ |
| collection |
DOAJ |
| language |
EN PT |
| topic |
family business family management capital structure debt Business HF5001-6182 |
| spellingShingle |
family business family management capital structure debt Business HF5001-6182 Liliane Cristina Segura Henrique Formigoni Influence of Control and Family Management in the Indebtedness of Brazilian Open Business: a Quantitative Study |
| description |
This research investigated the influence of the family on the debt of Brazilian open business companies. Although there is a vast national and international literature on capital structure, there are still doubts on the importance of family in business management. In Brazil, due to the large number of family businesses, it is even more evident the need to investigate the issue. The studied population was composed of companies listed on the BM&FBovespa, in 2010, and the final sample consisted of 356 companies. Six years were analyzed (2004-2009), in a total of 2,136 observations. The results show that the studied companies that are familiar or that have family management have become less indebted than others. This result is in accordance with national and international studies, according to which family firms tend to be more conservative in their investments, seeking to use more equity than third party capital. |
| format |
article |
| author |
Liliane Cristina Segura Henrique Formigoni |
| author_facet |
Liliane Cristina Segura Henrique Formigoni |
| author_sort |
Liliane Cristina Segura |
| title |
Influence of Control and Family Management in the Indebtedness of Brazilian Open Business: a Quantitative Study |
| title_short |
Influence of Control and Family Management in the Indebtedness of Brazilian Open Business: a Quantitative Study |
| title_full |
Influence of Control and Family Management in the Indebtedness of Brazilian Open Business: a Quantitative Study |
| title_fullStr |
Influence of Control and Family Management in the Indebtedness of Brazilian Open Business: a Quantitative Study |
| title_full_unstemmed |
Influence of Control and Family Management in the Indebtedness of Brazilian Open Business: a Quantitative Study |
| title_sort |
influence of control and family management in the indebtedness of brazilian open business: a quantitative study |
| publisher |
FUCAPE Business School |
| publishDate |
2014 |
| url |
https://doaj.org/article/216e6a0a79b04014a171857b1153b8dc |
| work_keys_str_mv |
AT lilianecristinasegura influenceofcontrolandfamilymanagementintheindebtednessofbrazilianopenbusinessaquantitativestudy AT henriqueformigoni influenceofcontrolandfamilymanagementintheindebtednessofbrazilianopenbusinessaquantitativestudy |
| _version_ |
1718433878817898496 |