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BBR. Brazilian Business Review

versão On-line ISSN 1808-2386

Resumo

VOELCKER, Gabriel; MACAGNAN, Clea Beatriz  e  VANCIN, Daniel. An Analysis of Risk-Taking in Family Firms Listed in B3. BBR, Braz. Bus. Rev. [online]. 2020, vol.17, n.4, pp.399-418.  Epub 31-Jul-2020. ISSN 1808-2386.  https://doi.org/10.15728/bbr.2020.17.4.3.

This work analyses the statistical relationship between family firms and risk-taking. It seeks to contribute to the growing literature on family firms by reviewing the literature on the characteristics that distinguish them from non-family firms, aiming to innovate by approaching a less-used construct for this type of firm: risk-taking. The literature on both constructs is reviewed, using theoretical and empirical works to develop the following research hypothesis: tfamily firms are more averse to risk-taking than non-family firms. This hypothesis is tested empirically using econometrics procedures in a sample with 1188 observations from publicly traded companies listed on B3. The results indicate that the presence of family firms negatively affect risk-taking. Thus, it can be concluded that family firms seem to be less prone to risk-taking than non-family firms.

Palavras-chave : Family firms; Risk-taking; Decision-making.

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