FAMILY INVOLVEMENT IN MANAGEMENT AND FIRM PERFORMANCE: EVIDENCE FROM ITALY

Lidia Mannarino (), Valeria Pupo () and Fernanda Ricotta

No 201103, Working Papers from Università della Calabria, Dipartimento di Economia, Statistica e Finanza "Giovanni Anania" - DESF

Abstract: Using Total Factor Productivity (TFP) as a measure of corporate performance, this study compares the performance of owner management to that of firms run by professional managers over the period 2004-2006. We consider the influence of owner management for the sample as a whole and for subgroups of firms. The findings demonstrate that family run firms are less productive than firms run by professional managers, but the difference between the two is small. Our results support the idea that in Italy there is not a genuine process of manager selection both for family and no-family firms.

Keywords: TFP; Family firms; Management (search for similar items in EconPapers)
JEL-codes: D24 G34 (search for similar items in EconPapers)
Pages: 16 pages
Date: 2011-03
New Economics Papers: this item is included in nep-bec, nep-cse, nep-eff and nep-eur
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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