Original Research

Factors determining exportation and internationalization in family businesses: The importance of debt

S. Benito-Hernández, T. Priede-Bergamini, C. López-Cózar-Navarro
South African Journal of Business Management | Vol 45, No 1 | a114 | DOI: https://doi.org/10.4102/sajbm.v45i1.114 | © 2018 S. Benito-Hernández, T. Priede-Bergamini, C. López-Cózar-Navarro | This work is licensed under CC Attribution 4.0
Submitted: 29 March 2018 | Published: 31 March 2014

About the author(s)

S. Benito-Hernández, Universidad Politécnica de Madrid, Spain
T. Priede-Bergamini, Universidad Europea de Madrid, Spain
C. López-Cózar-Navarro, Universidad Politécnica de Madrid, Spain

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Abstract

This study focuses on the factors that may influence Spanish family owned businesses to decide to export and move towards internationalization, posing their level of debt as a possible determining factor. To do so, a review of publications
on the subject has been carried out, as well as an empirical study using a sample of 1,846 businesses, which include both family and non-family firms. The results seem to show that the debt level of businesses whose propriety and management are handled by a family differs from that of those that do not fit this characteristic, especially where the decision whether or not to export products abroad is concerned.


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