Investment Decisions in Unlisted Family Businesses
Language
EN
Article de revue
This item was published in
International Journal of Economics and Management Sciences. 2017, vol. 6, n° 1
English Abstract
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 ...Read more >
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.Read less <
English Keywords
Investment decision
Unlisted family business
Prospect theory
Survival goal