This file is part of IDEAS, which uses RePEc data


[ Papers | Articles | Software | Books | Chapters | Authors | Institutions | JEL Classification | NEP reports | Search | New papers by email | Author registration | Rankings | Volunteers | FAQ | Blog | Help! ]

Capital Markets and the Evolution of Family Businesses

Author info | Abstract | Publisher info | Download info | Related research | Statistics
Author Info
Bhattacharya, Utpal
Ravikumar, B

Additional information is available for the following registered author(s):

Abstract

We model a family business as a household operating a production technology in which the household's human capital is a specific business skill. Each generation can either bequeath the business and the business skill to the next generation or sell the business through a financial intermediary and bequeath the revenue. Using a dynamic model, we analyze how the imperfections in primary capital markets affect the evolution of family businesses. Whether recourse to external financing exists or not, our model predicts that family businesses are bigger, last longer, and have lower investment rates in economies with less developed primary capital markets. Copyright 2001 by University of Chicago Press.

Download Info
To download:

If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://links.jstor.org/sici?sici=0021-9398%28200104%2974%3A2%3C187%3ACMATEO%3E2.0.CO%3B2-T&origin=repec
File Format: application/pdf
File Function: full text
Download Restriction: Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Publisher Info
Article provided by University of Chicago Press in its journal Journal of Business.

Volume (Year): 74 (2001)
Issue (Month): 2 (April)
Pages: 187-219
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:ucp:jnlbus:v:74:y:2001:i:2:p:187-219

Contact details of provider:
Postal: The University of Chicago Press, Journals Division, P.O. Box 37005 Chicago, IL 60637
Web page: http://www.journals.uchicago.edu/JB/home.html

Order Information:
Web: http://www.journals.uchicago.edu/JB/home.html

For technical questions regarding this item, or to correct its listing, contact: (Christopher F. Baum).

Related research
Keywords:

Other versions of this item:

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)
  1. Oana Secrieru & Marianne Vigneault, 2004. "Public Venture Capital and Entrepreneurship," Working Papers 04-10, Bank of Canada. [Downloadable!]
  2. Francesco Caselli & Nicola Gennaioli, 2006. "Dynastic Management," CEP Discussion Papers dp0741, Centre for Economic Performance, LSE. [Downloadable!]
    Other versions:
  3. Giannetti, Mariassunta & Yu, Xiaoyun, 2007. "Favouritism or Markets in Capital Allocation?," CEPR Discussion Papers 6124, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
  4. Audretsch, David B & Lehmann, Erik, 2002. "Does the New Economy Need New Governance? Ownership, Knowledge and Performance," CEPR Discussion Papers 3626, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  5. Mesnard, Alice & Ravallion, Martin, 2001. "Wealth Distribution and Self-Employment in a Developing Economy," CEPR Discussion Papers 3026, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  6. Yohane Khamfula, 2005. "African capital markets and real sector investment," Journal of International Development, John Wiley & Sons, Ltd., vol. 17(4), pages 511-525. [Downloadable!]
  7. Manuel Oechslin & Reto Foellmi, 2006. "Market Imperfections, Wealth Inequality, and the Distribution of Trade Gains," IEW - Working Papers iewwp266, Institute for Empirical Research in Economics - IEW. [Downloadable!]
    Other versions:
  8. Morten Bennedsen & Kasper Nielsen & Francisco Pérez-González & Daniel Wolfenzon, 2005. "Inside the Family Firm: The Role of Families in Succession Decisions and Performance," CIE Discussion Papers 2005-13, University of Copenhagen. Department of Economics. Centre for Industrial Economics, revised Sep 2005. [Downloadable!]
  9. David Audretsch & Erik Lehmann, 2004. "The Effects of Experience, Ownership, and Knowledge on IPO Survival: Evidence from the Neuer Markt," Working Papers of the Research Group Heterogenous Labor 04-10, Research Group Heterogeneous Labor, University of Konstanz/ZEW Mannheim. [Downloadable!]
  10. Bennedsen, Morten & Nielsen, Kasper & Pérez-González, Francisco & Wolfenzon, Daniel, 2005. "Inside the Family Firm," Working Papers 21-2005, Copenhagen Business School, Department of Economics. [Downloadable!]
  11. Siegel, Jordan & Oberholzer-Gee, Felix, 2007. "Expropriators or Turnaround Artists? The Role of Controlling Families in South Korea (1985-2003)," CEI Working Paper Series 2006-19, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University. [Downloadable!]
  12. Marianne Bertrand & Simon Johnson & Krislert Samphantharak & Antoinette Schoar, 2008. "Mixing Family With Business: A Study of Thai Business Groups and the Families Behind Them," NBER Working Papers 13738, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  13. Jellal, Mohamed, 2009. "Family Capitalism Corporate Governance Theory," MPRA Paper 17886, University Library of Munich, Germany. [Downloadable!]
  14. Enrico Colombatto & Arie Melnik, 2006. "The Formation of Firms and the Prior Experience of New Entrepreneurs," ICER Working Papers 32-2006, ICER - International Centre for Economic Research. [Downloadable!]
Statistics
Access and download statistics

Did you know? All top Economics journals are listed on RePEc.

This page was last updated on 2009-12-28.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.