%0 Journal Article %1 Bhaumik2010 %A Bhaumik, Sumon Kumar %A Gregoriou, Andros %D 2010 %J Journal of Economic Surveys %K accionistas instituciones %N 4 %P 705-730 %T 'Family' Ownership, Tunnelling and Earnings Management: A Review of the Literature %V 24 %X In this review paper, we bring together a number of aspects of family firms that are ubiquitous in a number of institutional contexts, often as part of larger business groups. We pay particular attention to the mechanisms by which families retain control over firms, and the incentives of the families in control to expropriate other stakeholders by way of tunnelling. We examine the role of earnings management in facilitating tunnelling, and evidence about the incidence of earnings management in family firms. Our review suggests that while the literature on these aspects of family control is rich, the contexts in which the empirical exercises are undertaken are relatively few, and hence there is considerable opportunity to expand it to other contexts, in particular in the form of cross-country comparisons of the relative impact of agency conflicts and institutions on these issues.

@article{Bhaumik2010, abstract = {In this review paper, we bring together a number of aspects of family firms that are ubiquitous in a number of institutional contexts, often as part of larger business groups. We pay particular attention to the mechanisms by which families retain control over firms, and the incentives of the families in control to expropriate other stakeholders by way of tunnelling. We examine the role of earnings management in facilitating tunnelling, and evidence about the incidence of earnings management in family firms. Our review suggests that while the literature on these aspects of family control is rich, the contexts in which the empirical exercises are undertaken are relatively few, and hence there is considerable opportunity to expand it to other contexts, in particular in the form of cross-country comparisons of the relative impact of agency conflicts and institutions on these issues.}, added-at = {2011-11-13T04:52:20.000+0100}, author = {Bhaumik, Sumon Kumar and Gregoriou, Andros}, biburl = {https://www.bibsonomy.org/bibtex/2bba16c8aaebec521b4f93d6b04685992/edwardyanquen}, interhash = {4fbb14db3e0bb366ff5a32c5880d7665}, intrahash = {bba16c8aaebec521b4f93d6b04685992}, journal = {Journal of Economic Surveys}, keywords = {accionistas instituciones}, note = {Keywords: Earnings; Firm; Firms; Ownership; Publication Type: Journal Article; Update Code: 201010; Copyright: Copyright of Journal of Economic Surveys is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use.}, number = 4, pages = {705-730}, timestamp = {2011-11-13T04:52:21.000+0100}, title = {'Family' Ownership, Tunnelling and Earnings Management: A Review of the Literature}, volume = 24, year = 2010 }