This study examines the effect of family management, ownership, and control on capital structure for 523 listed and unlisted Colombian firms between 1996 and 2006 (5,094 firm-year observations). The study finds that when families are involved in management, debt levels tend to be lower for...

We examine the relationship between financial performance and family management, ownership, and control for 523 listed and non–listed Colombian firms during the years 1996-2006 (5,094 firm-year observations). Using a very detailed database and performing several panel data regression models,...

This study examines the relationship between financial performance and family involvement for 523 listed and non-listed Colombian firms over 1996-2006. Using a detailed database and performing several panel data regression models, we find that family firms exhibit better financial performance on...