The Family Firm Puzzle

Keywords

Ambiguity, Ambiguity aversion, Diversification (marketing strategy), Shareholder, Equity (law)

References

• Large Shareholder Activism, Risk Sharing, and Financial Market EquilibriumAnat R. Admati, Paul Pfleiderer, Josef Zechner — 1994
• Board Composition: Balancing Family Influence in S&P 500 FirmsRolph E. Anderson, David M. Reeb — 2004
• Differentiating ambiguity and ambiguity attitudePaolo Ghirardato, Fabio Maccheroni, Mássimo Marinacci — 2004
• Founders, heirs, and corporate opacity in the United StatesRonald C. Anderson, Augustine Duru, David M. Reeb — 2009
• Additional evidence on equity ownership and corporate valueJohn J. McConnell, Henri Servaes — 1990
• Causes of ambiguity aversion: Known versus unknown preferencesStefan T. Trautmann, Ferdinand M. Vieider, Peter P. Wakker — 2008
• Risk Reduction and Portfolio Size: An Analytical SolutionEdwin J. Elton, Martin J. Gruber — 1977
• Underinvestment and Incompetence as Responses to Radical Innovation: Evidence From the Photolithographic Alignment Equipment IndustryRebecca Henderson — 2015
• How Do Family Ownership, Control, and Management Affect Firm Value?Belén Villalonga, Raphael Amit — 2006
• Industry costs of equityEugene F. Fama, Kenneth R. French — 1997
• Corporate Disclosures by Family FirmsAshiq Ali, Tai-Yuan Chen, Suresh Radhakrishnan — 2007
• Quality Disclosure and Certification: Theory and PracticeDavid Dranove, Ginger Zhe Jin — 2010
• Insider Ownership and the Decision to Go PublicLuigi Zingales — 1995
• Ambiguity and Nonparticipation: The Role of RegulationDavid Easley, Maureen O’Hara — 2009
• Family Control of Firms and IndustriesBelén Villalonga, Raphael Amit — 2010
• ARE WOMEN MORE RISK AVERSENancy Jianakoplos, Alexandra Bernasek — 1998
• Technological Discontinuities and Organizational EnvironmentsMichael L. Tushman, Philip C. Anderson — 1986
• The Limits of ArbitrageAndrei Shleifer, Robert W. Vishny — 1997
• Large Shareholder Diversification and Corporate Risk-TakingMara Faccio, Maria‐Teresa Marchica, Roberto Mura — 2010
• Founding-Family Ownership and Firm Performance: Evidence from the S&P 500Rolph E. Anderson, David M. Reeb — 2003

Cited by

• The effect of industry characteristics on the control longevity of founding-family firmsRoger King, Winnie Qian Peng — 2013
• Required and obtained equity returns in privately held businesses: the impact of family nature—evidence before and after the global economic crisisAlfonso A. Rojo Ramírez, María J. Martínez‐Romero — 2018

Related papers

• Corporate Structure and Equity Offerings: Are There Benefits to Diversification?Charles J. Hadlock, Michael D. Ryngaert, Shawn Thomas — 2001
• Family Firms and InvestmentsMagda Bianco, Roberto Golinelli, Giuseppe Parigi — 2009
• The Impact of Insider Ownership Level on Equity Market Timing DecisionsFrank P. D’Souza, Surya Chelikani — 2012
• Agency Costs of Idiosyncratic Volatility, Corporate Governance, and InvestmentKose John, Dalida Kadyrzhanova — 2010
• Control Motivations and Capital Structure DecisionAndrew Ellul — 2008
• Heterogeneous beliefs,corporate financing and investment returnZhang Li-jian — 2013
• The Impact of Firm Location on Equity IssuanceTim Loughran — 2008
• Investment, Idiosyncratic Risk, and OwnershipVasia Panousi, Dimitris Papanikolaou — 2011
• Inside Ownership, Risk Sharing and Tobin's q-Ratios: Evidence from REITsDennis R. Capozza, Paul J. Seguin — 2003