| 来源类型 | FEEM working papers "Note di lavoro" series |
| 规范类型 | 论文 |
| Inheritance Law and Investment in Family Firms | |
| Fausto Panunzi; Andrew Ellul; Marco Pagano | |
| 发表日期 | 2009 |
| 出处 | Economy and Society |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | Entrepreneurs may be constrained by the law to bequeath a minimal stake to non-controlling heirs. The size of this stake can reduce investment in family firms, by reducing the future income they can pledge to external financiers. Using a purpose-built indicator of the permissiveness of inheritance law and data for 10,245 firms from 32 countries over the 1990-2006 interval, we find that stricter inheritance law is associated with lower investment in family firms, while it leaves investment unaffected in non-family firms. Moreover, as predicted by the model, inheritance law affects investment only in family firms that experience a succession. |
| 特色分类 | G32 |
| 关键词 | Succession,Family Firms,Inheritance Law,Growth,Investment |
| URL | https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/inheritance-law-and-investment-in-family-firms/ |
| 来源智库 | Fondazione Eni Enrico Mattei (Italy) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/117684 |
| 推荐引用方式 GB/T 7714 | Fausto Panunzi,Andrew Ellul,Marco Pagano. Inheritance Law and Investment in Family Firms. 2009. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| NDL2009-006.pdf（1396KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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