Governance of Vehicles Managing and Holding Family Businesses and Wealth

Marco Bodellini () and Massimo Paolo Gentili ()
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Marco Bodellini: University of Bergamo and PwC Legal
Massimo Paolo Gentili: Gentili & Partners

Chapter 3 in The Governance of Luxembourg Investment Vehicles, Asset Managers, and Asset Owners, 2026, pp 87-125 from Springer

Abstract: Abstract This chapter analyzes the unique governance challenges of family-run vehicles and firms, where the three distinct systems of family, ownership, and management intersect. It introduces concepts such as “socioemotional wealth” and “familiness” to explain why these firms adopt long-term horizons and distinctive organizational cultures. The text details specialized family governance architecture, including family councils, assemblies, and constitutions. Finally, it examines specific Luxembourg family investment vehicles, namely the société de gestion de patrimoine familial (SPF) and the société de participations financières (SOPARFI).

Keywords: Family firms; Socioemotional wealth; Familiness; Family council; Family constitution; Family office; SPF; SOPARFI; Succession planning (search for similar items in EconPapers)
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-032-31062-0_3

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DOI: 10.1007/978-3-032-31062-0_3

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