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Owner-management, firm age and productivity in Italian family firms

Author

Listed:
  • Marco Cucculelli

    (Universit… Politecnica delle Marche, Dipartimento di Scienze economiche e sociali)

  • Lidia Mannarino

    (University of Calabria, Department of Economics and Statistics)

  • Valeria Pupo

    (University of Calabria, Department of Economics and Statistics)

  • Fernanda Ricotta

    (University of Calabria, Department of Economics and Statistics)

Abstract

Using Total Factor Productivity (TFP) as a measure of corporate performance, we find that Italian family-run firms are less productive than firms run by outside managers and the result is robust to potential endogeneity of management regime. This difference tends to vanish when the age of the firms is taken into account.

Suggested Citation

  • Marco Cucculelli & Lidia Mannarino & Valeria Pupo & Fernanda Ricotta, 2014. "Owner-management, firm age and productivity in Italian family firms," Mo.Fi.R. Working Papers 99, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
  • Handle: RePEc:anc:wmofir:99
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    More about this item

    Keywords

    Family firms; Management; TFP;
    All these keywords.

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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