... Cass) and the University of Westminster, London. © 2022 T. Bas, Y. G. Muradoglu and K. Phylaktis 2022 T. Bas, Y. G. Muradoglu and K. Phylaktis Licensed re-use rights only G3 G32 Leverage capital structure developing countries small firms family firms family management...

... D53 G12 G3 L21 Family firms play a major role in most economies around the world. In the United States, over 35% of the S&P 500 firms have continuing ownership by the founding family (Bennedsen et al., 2007; Burkart et al., 2003) and, across the economy...