FAMILY FIRMS AND PRODUCTIVITY: THE ROLE OF INSTITUTIONAL QUALITY

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

No 201605, Working Papers from Università della Calabria, Dipartimento di Economia, Statistica e Finanza "Giovanni Anania" - DESF

Abstract: The main aim of this research is to investigate the influence the institutional environment has on the difference in performance between Italian family firms run by a family member and firms run by a professional manager. By using total factor productivity (TFP) as a measure of performance, we find that family-run firms are less productive than firms run by outside managers when institutional quality is high, but that the results are less obvious when institutional quality is low. The difference in performance is not significant, but by using the level of corruption as a measure of institutional quality, older family firms are found to be more productive than firms run by outside managers.

Keywords: Family firms; TFP; Institutions (search for similar items in EconPapers)
JEL-codes: D24 G34 O43 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2016-06
New Economics Papers: this item is included in nep-bec, nep-cfn, nep-eff, nep-ger and nep-sbm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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http://www.ecostat.unical.it/RePEc/WorkingPapers/WP05_2016.pdf First version, 2016-06 (application/pdf)

Related works:
Journal Article: Family Firms and Productivity: The Role of Institutional Quality (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:clb:wpaper:201605

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