TY  - BOOK
AU  - Fabio Franzoi
PY  - 2023
CY  - Berlin, Germany
PB  - Peter Lang Verlag
SN  - 9783631902592
TI  - The Influence of Family Blockholders on the Financial Behavior of Listed Family Firms
DO  - 10.3726/b20854
UR  - https://www.peterlang.com/document/1338214
N2  - This dissertation investigates the influence of large family shareholders on financial decisions and the performance of listed firms in Germany. This country is especially interesting, as the German corporate governance system is considered less investor- friendly with a limited influence of shareholders on managerial decisions. Based on the incentive structure of family blockholders and their influence in corporate boards, the four studies offer a novel approach to analyzing the financial behavior of family firms. They use a hand-collected panel dataset identifying blockholders and every board position in 278 corporations. The dissertation demonstrates that the degree of family involvement in boards significantly influences working capital and earnings management as well as stock market performance and provides contributions for academia and practitioners alike.
KW  - family firms, family ownership, blockholders, corporate governance, board composition, Family management, working capital, financial reporting, earnings management, Shareholder activism, stock market returns, abnormal returns, financial crisis, Influence of family board involvement, Stock market performance of family firms
LA  - English
ER  -