International Journal of Economics & Management Sciences

ISSN: 2162-6359

Open Access

Gérard Hirigoyen

35 Avenue Abadie, 33100 Bordeaux

  • Research Article
    Investment Decisions in Unlisted Family Businesses
    Author(s): Gérard Hirigoyen and Djibrilla Moussa OusseiniGérard Hirigoyen and Djibrilla Moussa Ousseini

    This article contributes to understanding the investment decision in the unlisted family business (UFB). It particularly highlights the roles of the performance target and long-term survival goal, providing empirical support both for the Prospect Theory and for the Post Keynesian Theory developed by Myron Gordon. Results clearly show that the UFB’s main objective is very far removed from that of maximizing shareholders’ financial wealth. Overall, this article shows the necessity to consider the goal of long-term survival as a key factor for developing a governance theory that is relevant to UFBs... Read More»

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