In this study we examined the relationship between small family firms (SFFs) performance and one much-debated aspect of corporate governance: outsiders. We also consider generational effect. A regression analysis of 950 Italian private SFFs during the period 2007-2009 indicates a positive and significant relationship between SFFs performance and outsiders. Specifically, our findings indicate that: 1) inside directors (founder and/or heirs) have a positive effect on firm performance only in the first generation; 2) outsiders have a positive effect on SFFs performance; 3) this effect is positive and significant in every generation.
Gordini, N. (2012). The Impact of Outsiders on Small Family Firms Performance: Evidence From Italy. Intervento presentato a: Asian Business Research Conference, Bangkok, Thailand.
The Impact of Outsiders on Small Family Firms Performance: Evidence From Italy
GORDINI, NICCOLO'
2012
Abstract
In this study we examined the relationship between small family firms (SFFs) performance and one much-debated aspect of corporate governance: outsiders. We also consider generational effect. A regression analysis of 950 Italian private SFFs during the period 2007-2009 indicates a positive and significant relationship between SFFs performance and outsiders. Specifically, our findings indicate that: 1) inside directors (founder and/or heirs) have a positive effect on firm performance only in the first generation; 2) outsiders have a positive effect on SFFs performance; 3) this effect is positive and significant in every generation.
I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
