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Family governance and payout policies to shareholders
[Gouvernance familiale et politique de distribution aux actionnaires]

Author

Listed:
  • Patrice Charlier

    (Humanis - Hommes et management en société / Humans and management in society - UNISTRA - Université de Strasbourg - EM Strasbourg - École de Management de Strasbourg = EM Strasbourg Business School)

  • Céline Du Boys

    (CERGAM - Centre d'Études et de Recherche en Gestion d'Aix-Marseille - AMU - Aix Marseille Université - UTLN - Université de Toulon)

Abstract

This paper studies payout policies of listed family firms. The recent evolutions of family firms models bring to study two types of agency conflicts, the one between shareholders and manager (type I), and the one between majority and minority shareholders (type II). Our results show that payout policies are related to the intensity of the two types of agency conflicts which are overall less strong than in non family firms.

Suggested Citation

  • Patrice Charlier & Céline Du Boys, 2011. "Family governance and payout policies to shareholders [Gouvernance familiale et politique de distribution aux actionnaires]," Post-Print hal-01470330, HAL.
    • Handle: RePEc:hal:journl:hal-01470330
    Note: View the original document on HAL open archive server: https://amu.hal.science/hal-01470330
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    References listed on IDEAS

    as
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