| Pub. Date | : Jan, 2024 |
|---|---|
| Product Name | : The IUP Journal of Accounting Research and Audit Practices |
| Product Type | : Article |
| Product Code | : IJARAP050124 |
| Author Name | : Alphy Antony and Ranajee |
| Availability | : YES |
| Subject/Domain | : Finance |
| Download Format | : PDF Format |
| No. of Pages | : 23 |
Due to frequency and domination of family businesses around the world, the practice of family firms is a popular field for research. However, there are not many studies that divide the current family firms and capital structure literature into different research themes and then offer popular and less popular research themes. This study includes a comprehensive review of 192 peer-reviewed journal publications over a two-decade period in an effort to close this gap. It provides an overview of current family firm research, categorizing it into six broad topics and describing the primary research questions for each. We offer future research directions and implications for policymakers based on the research gaps we have uncovered.
The prevalence of family businesses is evident all across the world, despite the dominance of large, publicly-traded corporations that are founded and owned by shareholders (Daniel et al., 2001; and Burkart et al., 2003). Due to the distinctive characteristics of family businesses in terms of their management style, ownership structure and financing behavior (Faccio and Lang, 2002), scholars have continued to contribute to the family business literature. Over the last decade, there has been an increase in interest in determining the factors that affect capital structure in family businesses.