Ampenberger, Markus; Schmid, Thomas; Achleitner, Ann-Kristin - Center for Entrepreneurial and Financial Studies <München> - 2009
the influence of three distinct components of a family firm: ownership, supervisory and management board activities by the …, management board involvement by the founding family has a consistently negative influence on leverage across all our models. In … shareholder with monitoring incentives and involved in firm management with convergence-of-interest effects. Finally, we detect …