Family firms , agency costs and risk aversion – Empirical evidence from diversification and hedging decisions *

@inproceedings{Schmid2008FamilyF,
  title={Family firms , agency costs and risk aversion – Empirical evidence from diversification and hedging decisions *},
  author={Thomas Schmid and Markus Ampenberger and Christoph Kaserer and Ann-Kristin Achleitner},
  year={2008}
}
  • Thomas Schmid, Markus Ampenberger, +1 author Ann-Kristin Achleitner
  • Published 2008
We analyse whether family firms differ from non-family firms in terms of business segment and geographical diversification or the application of currency hedging instruments. This analysis is based on a unique dataset of 339 publicly listed companies (1,561 firm years) in the German Prime Standard from 2002 to 2006. While there is widespread empirical evidence on differences between family and non-family firms in terms of corporate performance, comparatively little is known about the impact of… CONTINUE READING

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