No image available
Family Control and Grouping : Possible Expropriation Via Dividends
by Yoser Gadhoum, Université Laval. Faculté des sciences de l'administration. Direction de la recherche, Université Laval. Centre de recherche sur les technologies de l'organisation réseau · 2000
ISBN: 2895241147 9782895241140
Category: Unavailable
Page count: 51
Despite the prevalence and economic importance of the family-owned firms and group-affiliated firms in north America, Western Europe and East-Asia, little attention, if any, has been given to these types of organizations in finance. Using parametric and non parametric tests on a sample of Canadian listed firms, this paper provided empirical evidence of sharp contrast in financial features and policies between family grouping and their individually counterparts. Firms surveyed exhibit evidence that family-owned firms and group-affiliated firms are prone to engage in expropriation of minority shareholders in a very sophisticated and implicit ways.