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Article Dans Une Revue International Journal of Entrepreneurship and Small Business Année : 2019

Risk-taking behaviour of family firms: evidence from Tunisia

Résumé

Using a unique database of 87 Tunisian non-financial firms over the period 1998-2014, we analyse risk-taking behaviour of family firms. We find evidence that family ownership is positively related to corporate risk-taking. But family firms undertake less risky projects when the manager is not a member of the family or when the founder is no longer active in the firm. Our results show also that in these cases, family ownership becomes negatively associated to risk-taking. Finally, we find that family firms take more risk only when they belong to diversified groups, especially those operating in several industries.
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hal-02999642 , version 1 (10-11-2020)

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Dorra Ellouze, Khadija Mnasri. Risk-taking behaviour of family firms: evidence from Tunisia. International Journal of Entrepreneurship and Small Business, 2019, 39 (1/2), pp.192-221. ⟨10.1504/IJESB.2020.10025931⟩. ⟨hal-02999642⟩
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