Publication
Title
Intergenerational differences in family firms : impact on capital structure and growth behavior
Author
Abstract
Based on a sample of 425 SMEs, we investigate whether intergenerational differences affect the capital structure and growth behavior of family firms. We integrate the financing and growth relation into our research by using a 2SLS approach and the internal and sustainable growth concepts. Evidence is found that the capital structure is not directly influenced by the managing generation, but indirectly through the realized growth rate. Moreover, results indicate that next-generation companies grow slower because they have the tendency to forego part of their growth rather than risk the loss of family control due to the increased use of debt.
Language
English
Source (journal)
Entrepreneurship: theory and practice. - Waco, Tex.
Publication
Waco, Tex. : 2012
ISSN
1042-2587
Volume/pages
36:4(2012), p. 703-725
ISI
000306312800005
Full text (Publisher's DOI)
Full text (publisher's version - intranet only)
UAntwerpen
Faculty/Department
Research group
Publication type
Subject
Affiliation
Publications with a UAntwerp address
External links
Web of Science
Record
Identification
Creation 13.09.2012
Last edited 09.07.2017
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