The preferred usage of equity and debt financing in family businesses: evidence from Czech Republic

Petrů, Naděžda; Tomášková, Andrea

doi:10.21511/imfi.17(3).2020.03

Cited by 3 publications

(1 citation statement)

References 53 publications

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“…It also mentioned the issue of generational change but did not address family business funding issues in more detail. Petru and Tomaskova (2020) performed an empirical study on preferences for debt or equity financing and the diversity of its allocation for the specific needs of a company's growth based on a qualitative analysis of 245 family businesses with varying degrees of generational involvement. Their study confirmed the dependence of equity and debt financing on the number of generations in management.…”

Section: Czech Family Business Literaturementioning

confidence: 99%

The Impact of Family Ownership on Capital Structure and Business Performance

Stryckova

2023

IJFS

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Financial decision making in family companies is a topical issue that has arisen from an awareness of the significant impact of family businesses on the economies of individual countries. This article deals with the capital structure and business performance of family firms in the Czech Republic, as there is still a significant gap in family business research and empirical verification. This study aims to investigate Czech family businesses’ corporate financing practices and compare them with population data from all active companies. The literature distinguishes between the positive and negative impacts of family ownership on capital structure and performance. Our empirical findings hypothesise that family businesses are more leveraged than non-family firms and vice versa. At the same time, a slightly positive impact from family influence on firm financial performance is indicated. This study uses descriptive statistics to detect family influence on corporate capital structure and financial performance regarding business sectors. The results of this study indicate that Czech family firms are less indebted than all/non-family businesses, and that they have proved to be more profitable in terms of ROEs and ROAs. Furthermore, significant differences in financial characteristics have been identified not just between individual business sectors but also between sample family firms and all/non-family firms within one business sector.

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Section: Czech Family Business Literaturementioning

confidence: 99%

The Impact of Family Ownership on Capital Structure and Business Performance

Stryckova

2023

IJFS

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Understanding debt financing decisions in family firms – Are there new insights from the recent literature?

Sánchez-Andújar,

Parrado-Martínez,

Comino-Jurado

2024

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PurposeConsidering the important development that research on debt financing decisions of family firms (FFs) has undergone in recent years, we aim to assess the current state of the literature with the latest advances in this field.Design/methodology/approachWe undertake a systematic review of 42 journal articles published on this topic in recent years.FindingsAs a result of our work, new directions for the advancement of this research field are established, such as the consideration of different methodologies and sources of heterogeneity of FFs, the need for an integration of the supply and demand side of funds or the importance of evaluating a diversity of firm-specific and contextual factors affecting the debt financial behaviour of FFs.Originality/valueConsidering the notable development of the field of debt financing decisions of FFs in recent years, we find it opportune and valuable to revise the advances and trends published in the most recent papers. Thus, by connecting previous and current knowledge, we provide an updated integrative model of the state of the art and posit key research questions to solve in the future.

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European Model of Personal Data Protection (Gdpr) in the Practice of Employee Representatives With Regard to the Communication Process

KUPEC¹,

ŠVEC²,

MADLEŇÁK³

2022

AD ALTA: Journal of Interdisciplinary Research

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The authors deal with the issue of determining the appropriate legal bases for the processing of personal data by employee representatives. The main objective of this paper is to assess the use of the relatively new European legislation on the protection of personal data in the specific environment of individual and collective employment relationships on the part of employee representatives. In the paper, the authors try to confirm that employee representatives in addition to the consent of a natural person concerned are entitled to act in line with another legal basis - the public interest (or fulfillment of legal obligations) given their position in the implementation of individual and collective labor relations. According to the authors, the choice of a specific legal basis will be based on the assumption that the employee representatives process personal data of the natural persons concerned, e.g. for the purposes of exercising the competencies granted by the relevant labor law regulations or for the purposes of managing internal relations of employee representatives (trade union membership as a personal data of a special category, fulfillment of rights arising from the trade union membership by a natural person). The authors substantiate their claims with relevant references to the practice, international legal documents and subsequently emphasize their use within specific labor law institutes.

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The preferred usage of equity and debt financing in family businesses: evidence from Czech Republic

Cited by 3 publications

References 53 publications

The Impact of Family Ownership on Capital Structure and Business Performance

The Impact of Family Ownership on Capital Structure and Business Performance

Understanding debt financing decisions in family firms – Are there new insights from the recent literature?

European Model of Personal Data Protection (Gdpr) in the Practice of Employee Representatives With Regard to the Communication Process

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