Family firms and access to credit. Is family ownership beneficial?
نویسندگان
چکیده
منابع مشابه
Bankruptcy and Small Firms' Access to Credit Bankruptcy and Small Firms' Access to Credit
In this paper, we investigate whether and how personal bankruptcy law a ects small rms' access to credit. When a rm is unincorporated, its debts are personal liabilities of the rm's owner, so that lending to the rm is equivalent to lending to its owner. If the rm fails, the owner has an incentive to le for personal bankruptcy in order to obtain discharge of the rm's debts. While bankruptcy law ...
متن کاملBankruptcy and small firms’ access to credit
We investigate how personal bankruptcy law affects small firms’ access to credit. When a firm is unincorporated, its debts are personal liabilities of the firm’s owner, so that lending to the firm is legally equivalent to lending to its owner. If the firm fails, the owner has an incentive to file for personal bankruptcy, since the firm’s debts will be discharged. The higher the exemption level,...
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Tax is one of the effective factors on the decisions and strategies of companies and decision makers in small and medium-sized family firms. The theoretical foundations and empirical evidence indicate that power structures, experiences and culture of family members of these companies can be considered as factors influencing tax aggressiveness. Therefore, the main objective of this study is to e...
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H istory is replete with examples of spectacular ascents of family businesses. The Rothschilds, for example, not only amassed the greatest concentration of private wealth the Western world has ever seen, they are also credited with changing the fate of history by financing monarchs and kings—one of their most famous bets being the support for Wellington’s armies, which ultimately led to the def...
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This special issue ends with a comprehensive review article by Zellweger and Astrachan focused on understanding what we know about the ways in which family influence affects firm performance. Their literature review is organized along the dimensions of power, experience, and culture, through which a family can exert influence on a firm (Astrachan, Klein, Smyrnios 2002; Klein, Astrachan, Smyrnio...
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ژورنال
عنوان ژورنال: Journal of Banking & Finance
سال: 2019
ISSN: 0378-4266
DOI: 10.1016/j.jbankfin.2019.02.006