Transgenerational Succession and Financial Risk Taking of Family Firms: Evidence from China

Jialong Li, Yulin Shi and Zhenyu Wu

Chapter Chapter Four in Sustainable Entrepreneurship in China, 2015, pp 91-103 from Palgrave Macmillan

Abstract: Abstract Echoing an earlier version of family business definition provided by Barach and Ganitsky (1995), the seminal work by Chua et al. (1999) moves the family business literature into a new era as this study sheds light on the behavioral side of family firms run by succession. Family businesses have four dimensions, family ownership, family management, family governance, and intent for succession. Studies have addressed how intent for succession impacts family firms’ decisions and behaviors, such as risk taking (GÓmez-MejÍa et al., 2007), investment decisions in innovation (Chrisman and Patel, 2012), capital structure decisions (Chua et al., 2011), decisions on corporate social responsibilities (Dou et al., 2014), and firm valuation made by family CEOs (Zellweger et al., 2012).

Keywords: Family Firm; Family Business; Free Cash Flow; Family Ownership; Debt Financing (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-41253-9_4

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DOI: 10.1057/9781137412539_4

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