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Value of Control in Family Firms: Evidence from Mergers and Acquisitions

Nihat Aktas et al.

Multinational Finance Journal2016https://doi.org/10.17578/20-2-1article
AJG 1ABDC B
Weight
0.49

What the paper says

This article studies European acquisitions in the period 1990-2013 to examine the relationship between family ownership and the propensity to undertake diversifying acquisitions. We show that family firms, especially those highly leveraged, tend to make more cross-industry acquisitions as this allows the owners to effectively diversify their wealth without selling their shares. Our results also indicate that family firms that value control high (i.e., family firms with high leverage) appear not to diversify at the detriment of minority shareholders.

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https://doi.org/https://doi.org/10.17578/20-2-1

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@article{nihat2016,
  title        = {{Value of Control in Family Firms: Evidence from Mergers and Acquisitions}},
  author       = {Nihat Aktas et al.},
  journal      = {Multinational Finance Journal},
  year         = {2016},
  doi          = {https://doi.org/https://doi.org/10.17578/20-2-1},
}

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Value of Control in Family Firms: Evidence from Mergers and Acquisitions

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Evidence weight

0.49

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.37 × 0.4 = 0.15
M · momentum0.80 × 0.15 = 0.12
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.