Abstract

DIAS DE MOURA, GEOVANNE  and  BEUREN, ILSE MARIA. INFLUENCE OF OWNERSHIP STRUCTURE AND FAMILY MANAGEMENT ON POSITIONING IN MERGERS AND ACQUISITIONS. Rev.fac.cienc.econ. [online]. 2017, vol.25, n.1, pp.129-149. ISSN 0121-6805.  https://doi.org/10.18359/rfce.2658.

This study investigates the influence of the ownership structure and family management on positioning in mergers and acquisitions of companies listed on the BM & FBovespa market. For this purpose a descriptive research with quantitative approach, through documentary analysis in a sample of 338 companies positioned in mergers and acquisitions in the period 2007 to 2012 was performed. The results show that companies with a structure of family ownership involved in mergers and acquisitions tend to take an active position as buyers. Moreover, the family management influences in the position as acquiring company in such operations. It is concluded that families are investors who value the stock control, adopt management policies guided by risk aversion and the search for better return and therefore position themselves as buyers in mergers and acquisitions.

Keywords : Management; Family property; Positioning; Fusions and Acquisitions.

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