2026-04-29T18:51:21Zhttps://riubu.ubu.es/oai/request

oai:riubu.ubu.es:10259/86442024-05-10T11:43:40Zcom_10259_7380com_10259_5086com_10259_2604col_10259_8643

Blanco Alcántara, David 64 600 0000-0003-0588-8961 Farinha, Jorge B. 7843ee39-9cf7-47a9-b91b-65d8383189b3 600 Jara Bertín, Mauricio 46eba1b9-8782-46bc-93fe-c2f1b5294ab4 600 López de Foronda Pérez, Óscar 319 600 Santamaría Mariscal, Marcos 676 600 0000-0002-2564-7017 2024-02-08T13:27:07Z 2024-02-08T13:27:07Z 2018-07-24 2523-336X http://hdl.handle.net/10259/8644 10.1007/978-3-319-90294-4_12 2523-3378 We study the risk-return relationship for an international sample of family and nonfamily firms in the period 2007 to 2014. According to prior studies and following the Prospect theory, we obtain a nonlinear risk-return relation and a target level of profitability for family firms in order not to assume excessive level of corporate risk taking. This relation is more prominent in companies from countries with lower protection to creditors and less aversion to uncertainty. Also, we find evidence that institutional investors exert pressure on family firms to increase corporate risk taking, even when the return is lower than the target, with the negative consequence of reducing the profitability and going to bankruptcy, as it happened during the years of financial crisis. While banks, as big shareholders, reduce risk because they try to preserve their financial relationship with family firms. This conservative role is positive to the profitability of the firm for values lower than the return target. application/pdf eng Palgrave Macmillan Contemporary issues in banking: regulation, governance and performance, p. 255-278 https://doi.org/10.1007/978-3-319-90294-4_12 Prospect theory Target and nonlinear risk return relation Family firms Institutional and cultural factors Banks and investment fund Economía Economics How Do Banks and Investment Funds Affect Family Risk-Taking? Evidence from the Financial Crisis info:eu-repo/semantics/bookPart info:eu-repo/semantics/acceptedVersion info:eu-repo/semantics/openAccess 255 278 THUMBNAIL Blanco-How_Banks_Investment_Funds_Affect_2018.pdf.jpg Blanco-How_Banks_Investment_Funds_Affect_2018.pdf.jpg IM Thumbnail image/jpeg 4195 https://riubu.ubu.es/bitstream/10259/8644/3/Blanco-How_Banks_Investment_Funds_Affect_2018.pdf.jpg 840d01807d28a98c9a552ef14a5165fa MD5 3 LICENSE license.txt license.txt text/plain; charset=utf-8 1362 https://riubu.ubu.es/bitstream/10259/8644/2/license.txt 5d013bfa6e473ff0db22cd82a4d71a70 MD5 2 ORIGINAL Blanco-How_Banks_Investment_Funds_Affect_2018.pdf Blanco-How_Banks_Investment_Funds_Affect_2018.pdf application/pdf 490737 https://riubu.ubu.es/bitstream/10259/8644/1/Blanco-How_Banks_Investment_Funds_Affect_2018.pdf 745ddb171ec8dedeeef9ab131c425cc9 MD5 1 10259/8644 oai:riubu.ubu.es:10259/8644 2024-05-10 13:43:40.427 Repositorio Institucional de la Universidad de Burgos bubrep@ubu.es RWwgYXV0b3IgY29tbyDDum5pY28gdGl0dWxhciBkZSBsb3MgZGVyZWNob3MgZGUgcHJvcGllZGFkIGludGVsZWN0dWFsIGRlIGxhIG9icmEsIG8gZGlzcG9uaWVuZG8gZGUgbG9zIGRlYmlkb3MgcGVybWlzb3MgZGUgbG9zIG90cm9zIHRpdHVsYXJlcywgc2kgbG9zIGh1YmllcmEsIHkgZW4gdmlydHVkIGRlIGxvcyBkZXJlY2hvcyBxdWUgbGUgY29uZmllcmUgbGEgbGVnaXNsYWNpw7NuIHZpZ2VudGUgc29icmUgcHJvcGllZGFkIGludGVsZWN0dWFsIHkgZGVyZWNob3MgZGUgYXV0b3IsIApBVVRPUklaQSBhIGxhIFVuaXZlcnNpZGFkIGRlIEJ1cmdvcyBhIGRpZnVuZGlyLCBkZSBtYW5lcmEgZ3JhdHVpdGEsIGVsIGNvbnRlbmlkbyBkZSBsb3MgYXJjaGl2b3MgZGlnaXRhbGVzIHF1ZSBjb3JyZXNwb25kZW4gYWwgZG9jdW1lbnRvIGRlc2NyaXRvIGFudGVyaW9ybWVudGUsIGNvbiBjYXLDoWN0ZXIgbm8gZXhjbHVzaXZvIHkgZGUgbWFuZXJhIHDDumJsaWNhIGVuIGFjY2VzbyBhYmllcnRvIGEgdHJhdsOpcyBkZSBJbnRlcm5ldCwgcGFyYSBsbyBxdWUgbGEgQmlibGlvdGVjYSBwcm9jZWRlcsOhIGEgYXJjaGl2YXJsb3MgZW4gZWwgUmVwb3NpdG9yaW8gSW5zdGl0dWNpb25hbC4gQXNpbWlzbW8gYXV0b3JpemEgYSBsYSBVbml2ZXJzaWRhZCBkZSBCdXJnb3MgYSByZWFsaXphciBsYXMgdHJhbnNmb3JtYWNpb25lcyBuZWNlc2FyaWFzIGRlIGZvcm1hdG8sIG5vIGRlIGNvbnRlbmlkbywgcGFyYSBnYXJhbnRpemFyIGxhIHByZXNlcnZhY2nDs24geSBlbCBhY2Nlc28gZW4gZWwgZnV0dXJvLgoKRWwgYXV0b3IgZGlzcG9uZSwgZW4gdG9kbyBjYXNvLCBkZWwgZGVyZWNobyBhIHJldm9jYXIgZXN0YSBhdXRvcml6YWNpw7NuLgoKTGEgY2VzacOzbiBkZSBkZXJlY2hvcyBkZSBlc3RhIG9icmEgc2UgZW5jdWVudHJhIHN1amV0YSBhIGxhIGxlZ2lzbGFjacOzbiB2aWdlbnRlIHNvYnJlIHByb3BpZWRhZCBpbnRlbGVjdHVhbCB5IGRlcmVjaG9zIGRlIGF1dG9yLiBTdSBkaWZ1c2nDs24gZW4gZWwgUmVwb3NpdG9yaW8gc2Vyw6EgYmFqbyBsYSBtb2RhbGlkYWQgZGUgbGljZW5jaWEgQ3JlYXRpdmUgQ29tbW9ucyBvIGVxdWl2YWxlbnRlOiByZWNvbm9jaW1pZW50byDigJMgdXNvIG5vIGNvbWVyY2lhbCDigJMgc2luIG9icmEgZGVyaXZhZGEsIHBvciBsYSBxdWUgc2UgcGVybWl0ZSBoYWNlciBjb3BpYSwgZGlzdHJpYnVpciB5IGNvbXVuaWNhciBww7pibGljYW1lbnRlIGxhIG9icmEgc2llbXByZSBxdWUgc2UgY2l0ZSBhbCBhdXRvciwgZWwgdXNvIHF1ZSBzZSBoYWdhIGRlIGVsbGEgc2VhIG5vIGNvbWVyY2lhbCB5IG5vIHNlIGNyZWVuIG9icmFzIGRlcml2YWRhcyBhIHBhcnRpciBkZSBsYSBvcmlnaW5hbC4K