The chapter describes the construction of the dataset (Section 4.1). Furthermore, descriptive statistics are used to compare family and non-family firms in terms of firm characteristics, governance and CEO characteristics, as well as industry membership (Section 4.2). The chapter closes with a description of Bayesian analysis, a statistical method that is used in addition to classical methods in this thesis (Section 4.3).
KeywordsCash Flow Posterior Distribution Bayesian Analysis Bayesian Method Family Firm
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