“…In contrast, higher leverage ratios have been found for family firms in Australia (Setia-Atmaja, 2010;Setia-Atmaja, Tanewski, & Skully, 2009), Brazil (Kayo, Brunaldi, & Aldrighi, 2018), Canada (King & Santor, 2008), Egypt (ElBannan, 2017), Italy (Morresi & Naccarato, 2016), Poland (Jewartowski & Kałdo nski, 2015), Thailand and Indonesia (Bunkanwanicha, Gupta, & Rokhim, 2008;Wiwattanakantang, 1999), the United States (Keasey, Martinez, & Pindado, 2015), and multicountry samples (Croci, Doukas, & Gonenc, 2011;Ellul, 2009). In this study, we conduct a meta-analysis examining the relationship between family firm status and leverage ratio.…”