Family businesses: A literature review from an agency perspective

This article presents a comprehensive review of the financial literature consisting of the main studies on family businesses. Focusing on the agency theory*the review describes the main agency problems that arise between managers and owners*between managers and debt holders*and between majority and...

Descripción completa

Detalles Bibliográficos
Autores Principales: Ferrero M.G., Vásquez A.G., Bejarano C.P., Dávila M.A.T.
Formato: Artículo (Article)
Lenguaje:Inglés (English)
Publicado: 2010
Materias:
Acceso en línea:https://repository.urosario.edu.co/handle/10336/23788
id ir-10336-23788
recordtype dspace
spelling ir-10336-237882020-06-03T22:15:14Z Family businesses: A literature review from an agency perspective Empresas familiares: Revisión de la literatura desde una perspectiva de agencia Ferrero M.G. Vásquez A.G. Bejarano C.P. Dávila M.A.T. Agency problems Corporate governance Family businesses This article presents a comprehensive review of the financial literature consisting of the main studies on family businesses. Focusing on the agency theory*the review describes the main agency problems that arise between managers and owners*between managers and debt holders*and between majority and minority shareholders in a family ownership structure. Three decades of family business articles published in the main financial journals are reviewed. This look at the literature on the topic evidences a field of research that is incipient*little explored in Latin America*for which empirical comparison and contrasting is necessary in order to understand the family ownership structure worldwide. The article ends by proposing a family business research agenda including topics such as financial performance*the role of the heirs*debt structure*the composition of the board of directors*the impact of agency costs on capital costs*and private control benefits. 2010 2020-05-26T00:05:24Z info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion 19007205 01203592 https://repository.urosario.edu.co/handle/10336/23788 eng info:eu-repo/semantics/openAccess application/pdf instname:Universidad del Rosario reponame:Repositorio Institucional EdocUR
institution EdocUR - Universidad del Rosario
collection DSpace
language Inglés (English)
topic Agency problems
Corporate governance
Family businesses
spellingShingle Agency problems
Corporate governance
Family businesses
Ferrero M.G.
Vásquez A.G.
Bejarano C.P.
Dávila M.A.T.
Family businesses: A literature review from an agency perspective
description This article presents a comprehensive review of the financial literature consisting of the main studies on family businesses. Focusing on the agency theory*the review describes the main agency problems that arise between managers and owners*between managers and debt holders*and between majority and minority shareholders in a family ownership structure. Three decades of family business articles published in the main financial journals are reviewed. This look at the literature on the topic evidences a field of research that is incipient*little explored in Latin America*for which empirical comparison and contrasting is necessary in order to understand the family ownership structure worldwide. The article ends by proposing a family business research agenda including topics such as financial performance*the role of the heirs*debt structure*the composition of the board of directors*the impact of agency costs on capital costs*and private control benefits.
format Artículo (Article)
author Ferrero M.G.
Vásquez A.G.
Bejarano C.P.
Dávila M.A.T.
author_facet Ferrero M.G.
Vásquez A.G.
Bejarano C.P.
Dávila M.A.T.
author_sort Ferrero M.G.
title Family businesses: A literature review from an agency perspective
title_short Family businesses: A literature review from an agency perspective
title_full Family businesses: A literature review from an agency perspective
title_fullStr Family businesses: A literature review from an agency perspective
title_full_unstemmed Family businesses: A literature review from an agency perspective
title_sort family businesses: a literature review from an agency perspective
publishDate 2010
url https://repository.urosario.edu.co/handle/10336/23788
_version_ 1669098443738447872
score 11,366202