CeFEO Research Seminar - Presented by Sofia Brunelli

Title: Driving the transition from family SMEs to large family firms

Sofia Brunelli (presenter)

Co-Authors:

Luigi Vena, Carlo Cattaneo University

Lucia Naldi, JIBS

Salvatore Sciascia, Carlo Cattaneo University

April 17th, 12:00-13:00 CET

B7030 or Via Zoom

Zoom link: http://cefeo.se/zoom

ABSTRACT: We draw on the agency and the stewardship perspectives to argue that family involvement could affect the possibility to move from being a family SME to a large family firm. We exploit an original dataset composed of 89 Italian family firms over 10 years period (2008-2017) including governance and financial data collected from complementary sources. Findings show that the involvement of nonfamily members in the board and the presence of the family CEO could positively influence the probability of to register size transition. Findings would be useful for family owners to take decisions about the optimal governance structure.