Family Ownership and Cash Holdings : Empirical Evidence from Norway
Master thesis
Permanent lenke
http://hdl.handle.net/11250/2442597Utgivelsesdato
2016Metadata
Vis full innførselSamlinger
- Master of Science [1822]
Sammendrag
This master thesis examines the level of cash holdings in Norwegian private firms in
the period 2004 to 2014. We compare family firms to non-family firms and explore
whether there are differences in their cash holding policies. Furthermore, we test
whether inside versus outside management in family firms has an impact on cash
holdings. Lastly, we look at the influence of founders in contrast to non-founders in
family managed firms on cash holdings. We find that family firms hold significantly
less cash than non-family firms. Moreover, we find that inside CEOs hold less cash
than outside CEOs in family firms. Lastly, we find that founders hold slightly more
cash than non-founders in family managed firms. Our findings contradict previous
research. However, our research is based on private as opposed to public firms and
might offer some new insight.
Beskrivelse
Masteroppgave(MSc) in Master of Science in Finance - Handelshøyskolen BI, 2016