Factors that influence capital structure decisions between owners of family businesses and their administrators in medium sized organizations

Tejuoso, B (2016) Factors that influence capital structure decisions between owners of family businesses and their administrators in medium sized organizations. Doctor of Business Administration thesis, University of Liverpool.

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Abstract

Family businesses are known to have problems with capital structure decision making, and this is evident within the Nigerian family business context. While other areas in the family business field have been well studied, the factors that influence capital structure decisions have been grossly understudied; particularly from the perspective of family business owners and the administrators that manage their businesses. This dissertation addresses this understudied section in the family business literature while simultaneously addressing a real-world problem through Action Research. This research analyses the family business literature to understand the current theoretical and empirical stance of this issue. Following the creation of action learning sets within my organization, a decision was made to diffuse new knowledge into the firm. Twelve interviews with owners and administrators of family businesses were conducted to explore the research problem and gather primary data on the subject. Research participants were interviewed based on their hierarchical roles within family businesses that met with set research criteria. Following qualitative analysis of the data and continued activities within the learning sets, this research wok produced factors that influence capital structure decisions within medium family businesses in Nigeria. Factors such as fear, control, trust, generational succession, expertise and experience, mind-set, agreement issues, capital structure decision priorities and conflicts were discovered. In addition, new knowledge was diffused into the organization which acted as a game-changer in terms of external financing. These activities, allowed for the problems concerning capital structure decision making in my organization to be addressed. This research work demonstrates how action research can be used to solve real- world problems and may provide guidance for future action researchers working in similar contexts – e.g., family business in developing countries.

Item Type:	Thesis (Doctor of Business Administration)
Divisions:	Faculty of Humanities and Social Sciences > Faculty of Humanities and Social Sciences
Depositing User:	Symplectic Admin
Date Deposited:	04 Aug 2016 09:49
Last Modified:	19 Jan 2023 07:37
DOI:	10.17638/03001179
Supervisors:	Philpott, E
URI:	https://livrepository.liverpool.ac.uk/id/eprint/3001179