La estructura financiera de la empresa familiar y el cambio generacional

  1. Blanco Mazagatos, Virginia
  2. Quevedo Puente, Esther de
  3. Delgado García, Juan Bautista
Revista:
Revista española de financiación y contabilidad

ISSN: 0210-2412

Ano de publicación: 2009

Número: 141

Páxinas: 57-73

Tipo: Artigo

DOI: 10.1080/02102412.2009.10779662 DIALNET GOOGLE SCHOLAR

Outras publicacións en: Revista española de financiación y contabilidad

Obxectivos de Desenvolvemento Sustentable

Resumo

Este trabajo analiza una muestra de 672 empresas no financieras pertenecientes a la Comunidad Autónoma de Castilla y León para evidenciar el efecto que ejerce el deseo de perpetuar el control familiar sobre la estructura financiera de las empresas familiares y realiza dos grandes contribuciones. En primer lugar, se comprueba que esta premisa de trascendencia genera en la empresa familiar un orden de preferencias de financiación acorde con la establecida por la Teoría del Pecking Order. En segundo lugar, aunque con los cambios generacionales se mantiene el deseo de control familiar, el debilitamiento de los lazos reduce la capacidad de sacrificio de los miembros familiares y, por tanto, varía la ponderación de las fuentes de financiación.

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Fonte de datos: Dialnet