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Czasopismo
2021 | 10(3) | 30--41
Tytuł artykułu

Investments of Polish Family Businesses

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EN
Abstrakty
EN
In this paper the authors address the issue of investments made by family businesses. Their study attempted to verify the level of investments made by Polish family businesses in comparison with the level of investments made by Polish non-family businesses. The study focused on the analysis of investment flows of Polish listed companies included in the WIG index for the years 2006-2018. A total of 233 companies were analyzed, including 177 non-family businesses and 56 family businesses. The results corroborated the argument that Polish listed non-family businesses invest much more money than family businesses. It was also observed that only a small percentage of companies in both groups invest their finances in research and development. (original abstract)
Czasopismo
Rocznik
Tom
Strony
30--41
Opis fizyczny
Twórcy
  • Poznań University of Economics and Business
  • Poznań University of Economics and Business
Bibliografia
  • Anderson, R. C., and D. M Reeb. Founding-family ownership and firm performance: evidence from the S&P 500, The Journal of Finance 58 (3), 2003, pp. 1301-1328.
  • Anderson, R. C., and D. M. Reeb. Board composition: Balancing family influence in S&P 500 firms. Administrative Science Quarterly, 49 (2), 2004, pp. 209-237.
  • Anderson, R. C., A. Duru, and D. M Reeb. Investment policy in family controlled firms, Journal of Banking & Finance 36 (6), 2012, pp. 1744-1758.
  • Bennedsen, M., K. M. Nielsen, F. Pérez-González, and D. Wolfenzon. Inside the family firm: The role of families in succession decisions and performance, The Quarterly Journal of Economics 122 (2), 2007, pp. 647-691.
  • Bertrand, M., and A. Schoar. The role of family in family firms, Journal of Economic Perspectives 20 (2), 2006, pp. 73-96.
  • Bianco, M., M. E. Bontempi, R. Golinelli, and G. Parigi. Family firms' investments, uncertainty and opacity, Small Business Economics 40 (4), 2013, pp. 1035-1058.
  • Block, J. H. R&D investments in family and founder firms: An agency perspective, Journal of Business Venturing 27 (2), 2012, pp. 248-265.
  • Blose, L. E., and J. C. Shieh. Tobin's q-Ratio and market reaction to capital investment announcements, Financial Review 32 (3), 1997, pp. 449-476.
  • Chrisman, J. J., and P. C. Patel. Variations in R&D investments of family and nonfamily firms: Behavioral agency and myopic loss aversion perspectives, Academy of Management Journal 55 (4), 2012, pp. 976-997.
  • Collins, L., and N. O'Regan. The evolving field of family business, Journal of Family Business Management 1 (1), 2011, pp. 5-13.
  • Croci, E., J. A. Doukas, and H. Gonenc. Family control and financing decisions, European Financial Management 17 (5), 2011, pp. 860-897.
  • Cyfrowy Polsat S.A. Raport roczny spółki Cyfrowy Polsat S.A. za rok obrotowy zakończony 31 grudnia 2011 roku, 2012, accessed 25 October, 2019. https://grupapolsat.pl/pl/relacje-inwestorskie/centrum-wynikow/centrum-wynikow
Typ dokumentu
Bibliografia
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