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Abstract The present study measures the influence of ownership on the capital structure of family businesses, compared to non-family businesses, listed in B3. The existing relations between these variables are the subject of discussions and there is no consensus in the literature regarding the influence exerted by family management on capital structure. For such, this study is characterized as descriptive, with a quantitative approach. Data have been retrieved from the Economatica database and the sample consisted of 269 companies, including family and non-family. The literature review generated 6 hypotheses, which observed the dimensions of ownership, indebtedness and cost of capital. Data have been processed and analyzed using the SPSS software, using descriptive statistics, correlation and linear regression. Results show that Long Term Debt and Total Debt presented negative coefficients, which denotes an inversely proportional relation between them and family management. As for the regression, results show that the dimensions of ownership in family management and shareholding concentration significantly influence the indebtedness of companies. There is a trend that this influence on family businesses becomes more significant when evaluated in long-term aspects. Even with this characteristic, family businesses tend to be less indebted compared to others. Their shareholding control was not significant in the proposed analyzes. And the relation between family management, ownership concentration and ownership control with cost of capital was not significant, diverging from other studies that have shown significant influences in these relations. At the end, limitations and suggestions for further investigations are presented. Author Biographies Roberto Wildner, Universidade do Oeste de Santa Catarina Universidade do Oeste de Santa Catarina. Address: Avenida Euclides da Cunha, 459, apto 202 | Centro | 89874-000 | Maravilha/SC | Brazil. Ieda Margarete Oro, Universidade do Oeste de Santa Catarina Universidade do Oeste de Santa Catarina. Address: Rua Nereu Ramos, 3777D | Seminário | 89813-000 | Chapecó/SC | Brazil. David Rodrigo Petry, Universidade do Oeste de Santa Catarina Universidade do Oeste de Santa Catarina. Address: Rua Castro Alves, 191 | Centro | 89820-000 | Xanxerê/SC | Brazil. References Adams, R., Almeida, H. A., & Ferreira, D. (2009). Understanding the relationship between founder-CEOs and firmperformance. Journal of Empirical Finance, 16, 136-150. DOI: https://doi.org/10.1016/j.jempfin.2008.05.002

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