Investment Decisions in Unlisted Family Businesses
Langue
EN
Article de revue
Ce document a été publié dans
International Journal of Economics and Management Sciences. 2017, vol. 6, n° 1
Résumé en anglais
This article contributes to understanding the investment decision in the unlisted family business (UFB). It
particularly highlights the roles of the performance target and long-term survival goal, providing empirical ...Lire la suite >
This article contributes to understanding the investment decision in the unlisted family business (UFB). It
particularly highlights the roles of the performance target and long-term survival goal, providing empirical support
both for the Prospect Theory and for the Post Keynesian Theory developed by Myron Gordon. Results clearly show
that the UFB’s main objective is very far removed from that of maximizing shareholders’ financial wealth. Overall, this
article shows the necessity to consider the goal of long-term survival as a key factor for developing a governance
theory that is relevant to UFBs.< Réduire
Mots clés en anglais
Investment decision
Unlisted family business
Prospect theory
Survival goal
Unités de recherche