| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5089910 | Journal of Banking & Finance | 2012 | 15 Pages |
Abstract
⺠We explore the impact of family control on corporate investment policy. ⺠We find that family firms devote less capital to long-term investments. ⺠Family firms also prefer investing in physical assets rather than risky R&D. ⺠Patent citations per dollar of R&D investment is decreasing in family control. ⺠Shareholders discount family firms that invest less in R&D than their peers.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Ronald C. Anderson, Augustine Duru, David M. Reeb,