An Analysis of Risk-Taking in Family Firms Listed in B3
This work analyses the statistical relationship between family firms and risk-taking. It seeks to contribute to the growing literature on family firms by reviewing the literature on the characteristics that distinguish them from non-family firms, aiming to innovate by approaching a less-used constru...
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| Autores principales: | , , |
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| Formato: | article |
| Lenguaje: | EN PT |
| Publicado: |
FUCAPE Business School
2020
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| Materias: | |
| Acceso en línea: | https://doaj.org/article/c319bb798d71465cbfb6d581f928daa3 |
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| Sumario: | This work analyses the statistical relationship between family firms and risk-taking. It seeks to contribute to the growing literature on family firms by reviewing the literature on the characteristics that distinguish them from non-family firms, aiming to innovate by approaching a less-used construct for this type of firm: risk-taking. The literature on both constructs is reviewed, using theoretical and empirical works to develop the following research hypothesis: tfamily firms are more averse to risk-taking than non-family firms. This hypothesis is tested empirically using econometrics procedures in a sample with 1188 observations from publicly traded companies listed on B3. The results indicate that the presence of family firms negatively affect risk-taking. Thus, it can be concluded that family firms seem to be less prone to risk-taking than non-family firms. |
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