Family firms and access to credit. Is family ownership beneficial?
Pierluigi Murro () and
Valentina Peruzzi ()
Journal of Banking & Finance, 2019, vol. 101, issue C, 173-187
This paper investigates the impact of family ownership on credit rationing using a rich sample of Italian firms. Estimation results indicate that family owned firms are more likely to experience credit restrictions. The adverse impact of family ownership on credit rationing is particularly relevant for small-sized firms, whereas it is mitigated in firms with closer lending relationships. Finally, we find some evidence that family firms with high ownership concentration are more likely to be rationed by banks.
Keywords: Family firms; Credit rationing; Agency conflicts; Relationship lending (search for similar items in EconPapers)
JEL-codes: D22 G21 G32 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3) Track citations by RSS feed
Downloads: (external link)
Full text for ScienceDirect subscribers only
Working Paper: Family firms and access to credit. Is family ownership beneficial? (2017)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eee:jbfina:v:101:y:2019:i:c:p:173-187
Access Statistics for this article
Journal of Banking & Finance is currently edited by Ike Mathur
More articles in Journal of Banking & Finance from Elsevier
Bibliographic data for series maintained by Nithya Sathishkumar ().