Library:
Madrid
Berlin
London
Turin
Paris Champerret
Paris Montparnasse
- Item type
- Study and report
- Dissertation
- Language
- English
- Publication year
- 2024
- Subjects
- FAMILY BUSINESS
This thesis explores family and non-family businesses' distinctive financing and growth
strategies, examining how their unique characteristics influence their approach to business
expansion and capital sourcing. Family businesses, representing a significant portion of the
global economy, are predominantly governed by family values and generational continuity,
which impacts their risk profiles and strategic decisions. In contrast, non-family businesses
often prioritize shareholder value and rapid growth, influenced by market forces and
competitive positioning.
This research employs a robust comparative analysis method, utilizing a combination of
case studies and surveys to gather data from European businesses, with a particular focus
on Italian firms. This approach provides a comprehensive understanding of the decision-making processes in these enterprises, shedding light on their use of internal and external
financing, risk management strategies, and strategic choices related to market expansion,
product diversification, and mergers and acquisitions.
Findings reveal that family businesses tend to favor conservative growth strategies and rely
more on internal financing to avoid diluting family control. In contrast, non-family firms are
likelier to engage in aggressive growth tactics and external fundraising. The study
contributes to understanding how familial involvement in business affects strategic financial
decisions, offering valuable implications for business owners, managers, and policymakers
aiming to support sustainable growth and long-term success in family enterprises.
