Exploring the agency consequences of ownership dispersion among the directors of private family firms

被引：546
|
作者：
Schulze, WS [1 ]
Lubatkin, MH
Dino, RN
机构：
[1] Case Western Reserve Univ, Cleveland, OH 44106 USA
[2] Univ Connecticut, Storrs, CT 06269 USA
[3] Ecole Management Lyon, Lyon, France
来源：
ACADEMY OF MANAGEMENT JOURNAL | 2003年 / 46卷 / 02期
关键词：
D O I：
10.5465/30040613
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Using an agency-theoretic tens and insights drawn from the behavioral economics and family business literatures, we developed hypotheses concerning the effect of dispersion of ownership on the use of debt by private family-owned and family-managed firms. A field study of 1,464 family firms was conducted. Results suggest that, during periods of market growth, the relationship between the use of debt and the dispersion of ownership among directors at family firms can be graphed as a U-shaped curve.
引用
收藏
页码：179 / 194
页数：16
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