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A complicated relationship: Family involvement in the top management team and post-IPO survival

Alessandro Cirillo, Donata Mussolino, Mauro Romano and Riccardo Viganò

Journal of Family Business Strategy, 2017, vol. 8, issue 1, 42-56

Abstract: This exploratory study aims to analyse how and whether family involvement in the top management team of listed family firms affects post-IPO survival on capital markets. We tested our hypotheses on a data set of listed family firms over the period 2000–2011 using survival analysis. Our findings suggest that a higher number of family members in the top management team reduces the likelihood of post-IPO survival, but the relationship is affected by a family member as CEO. The number of generations is also negatively correlated with survival.

Keywords: Initial public offering; Top management team; Family management; Family leadership; Survival analysis; Family firms (search for similar items in EconPapers)
Date: 2017
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Handle: RePEc:eee:fambus:v:8:y:2017:i:1:p:42-56