Scandinavian Working Papers in Economics

Ratio Working Papers,
The Ratio Institute

No 175: Ownership Dispersion and Capital Structures in Family firms: A study of closed medium sized enterprises

Per-Olof Bjuggren (), Rubecca Duggal () and Dinh Tung Giang ()
Additional contact information
Per-Olof Bjuggren: The Ratio Institute and Jönköping International Business School, Postal: The Ratio Institute, P.O. Box 3203, SE-103 64 Stockholm, Sweden
Rubecca Duggal: Jönköping International Business School and Center for Family Enterprise and Ownership in Jönköping
Dinh Tung Giang: 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.

Keywords: Family firms; Capital structure; Closed medium sized enterprises; Ownership Dispersion; Corporate Governance

JEL-codes: G30

30 pages, September 6, 2011

Full text files

pob_rd_dtg_ownership_175.pdf PDF-file 

Download statistics

Questions (including download problems) about the papers in this series should be directed to Martin Korpi ()
Report other problems with accessing this service to Sune Karlsson ().

This page generated on 2020-02-16 18:57:36.