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Corporate governance and its impact on financial performance on public family-owned firms: the contribution of Tobin’s q
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Orientador(es)
Resumo(s)
Corporate Governance strongly contributes to the efficient
functioning of the market and corporations, not only by providing
the right governance architecture, but also by aligning goals and
interests between shareholders and management.
Family businesses have been present throughout all of economic
history. This work project will be focused on the relationship
between family-ownership, firm value, and performance. This is
measured separately by using Tobin’s Q and Market Capitalization.
The sample will be limited to the European Market, more precisely,
the Portuguese and Danish Markets, for which we observe a
negative effect of family-ownership on firm value in all models.
Descrição
Palavras-chave
Corporate governance Regression analysis Family-firm performance European markets Denmark & Portugal Agency-theory