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Capital Markets and the Longevity of Family Businesses
B Ravikumar Working Papers from University of Iowa, Department of Economics
This paper models a family business as a closely-held technology that cannot be contracted upon. Each generation can either bequeath the business to the next generation, or it could sell it through a financial intermediary and bequeath the revenue.
Keywords: CAPITAL MARKET; INVESTMENTS; FAMILY (search for similar items in EconPapers)
JEL-codes: M10 M21 (search for similar items in EconPapers)
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Persistent link: http://EconPapers.repec.org/RePEc:uia:iowaec:96-16
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Address: University of Iowa, Department of Economics, Henry B. Tippie College of Business, Iowa City, Iowa 52242 Contact information at EDIRC. Series data maintained by John Solow ().