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Jose Luis Miralles-Marcelo
Facultad de Ciencias Económicas y Empresariales. Universidad de Extremadura (Spain)
Spain
María del Mar Miralles-Quirós
Facultad de Ciencias Económicas y Empresariales. Universidad de Extremadura (Spain)
Spain
Ines Lisboa
School of Technology and Management, Management for Sustainability Research Centre, Polytechnic Institute of Leiria (Portugal).
Portugal
Vol. 5 No. 1 (2015), Research Paper (Available)
DOI: https://doi.org/10.24310/ejfbejfb.v5i1.5063
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Abstract

In the current context of instability and financial crisis, understanding firm risk is crucial. In this study we aim to assess firm risk differences between family and non-family firms. Furthermore we analyze the family control impact, measured by both the family ownership and the F-PEC scale, in firm risk. We provide new evidence from family firm studies since we not only analyze the risk topic, almost unexplored, but we also introduce the F-PEC scale, an alternative way to measure the family influence. Using Portuguese quoted firms during the 1999- 2012 period, we find that family influence and control do not impact firm risk. Moreover, the firm size, return and growth opportunities influence it. 

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