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Erscheinungsjahr: 
2022
Quellenangabe: 
[Journal:] Journal of Risk and Financial Management [ISSN:] 1911-8074 [Volume:] 15 [Issue:] 3 [Article No.:] 110 [Publisher:] MDPI [Place:] Basel [Year:] 2022 [Pages:] 1-15
Verlag: 
MDPI, Basel
Zusammenfassung: 
This paper analyses the effect of family ownership and the characteristics of the board of directors on the risk assumed by Spanish non-financial companies. The sample consists of 176 Spanish non-financial companies listed on Spanish stock exchanges during the period 2012-2015. The results show that the level of family ownership concentration affects the level of exposure to risk non-linearly and confirms the importance of the characteristics of the board of directors in risk-taking.
Schlagwörter: 
family ownership
risk-taking
corporate governance
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