Family Firms  

Oleh:

Panunzi, Fausto ; Burkart, Mike ; Shleifer, Andrei

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Journal of Finance (EBSCO) vol. 58 no. 5 (Oct. 2003), page 2167-2202.
Topik: FAMILY; family owned businesses; corporate governance; studies; comparative analysis; many countries; mathematical models
Fulltext: p 2167.pdf (362.25KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ88 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

Lihat Detail Induk

Isi artikel

We present a model of succession in a firm owned and managed by its founder. The founder decides between hiring a professional manager or leaving management to his heir, as well as on what fraction of the company to float on the stock exchange. We assume that a professional is a better manager than the heir, and describe how the founder's decision is shaped by the legal environment. This theory of separation of ownership from management includes the Anglo - Saxon and the Continental European patterns of corporate governance as special cases, and generates additional empirical predictions consistent with cross - country evidence.

Opini Anda

Klik untuk menuliskan opini Anda tentang koleksi ini!

Kembali