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Ownership Dispersion and Capital Structures in Family firms: A study of closed medium sized enterprises

Author

Listed:
  • Bjuggren, Per-Olof

    (The Ratio Institute and Jönköping International Business School)

  • Duggal, Rubecca

    (Jönköping International Business School and Center for Family Enterprise and Ownership in Jönköping)

  • Giang, Dinh Tung

    (Jönköping International Business School)

Abstract

Family firms are entities that possess and contribute greatly to all economies worldwide. In the following study we investigate capital structures and ownership dispersion among Swedish family firms. In order to find concluding results, we proceed with a regression between leverage and family business, leverage and family firm age, and leverage and ownership dispersion. Our regression outcomes support a U- shaped relationship between family ownership dispersion and leverage, but do not confirm a relation between leverage and family business. Earlier studies made in the field have generated differing results; however, there are some studies that are actually in line with our findings. A unique database developed at Jönköping University is used that enables us to obtain access to firm level data. Earlier studies in the same genre have only had access to industry level data.

Suggested Citation

  • Bjuggren, Per-Olof & Duggal, Rubecca & Giang, Dinh Tung, 2011. "Ownership Dispersion and Capital Structures in Family firms: A study of closed medium sized enterprises," Ratio Working Papers 175, The Ratio Institute.
    • Handle: RePEc:hhs:ratioi:0175
    as

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    References listed on IDEAS

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    More about this item

    Keywords

    Family firms; Capital structure; Closed medium sized enterprises; Ownership Dispersion; Corporate Governance;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General

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