The diffusion of shared leadership models: An exploratory analysis of the Italian listed firms

Journal title CORPORATE GOVERNANCE AND RESEARCH & DEVELOPMENT STUDIES
Author/s Francesca Romana Arduino, Alessandro Zattoni, Saverio Bozzolan
Publishing Year 2022 Issue 2021/2
Language Italian Pages 15 P. 105-119 File size 0 KB
DOI 10.3280/cgrds2-2021oa12542
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This paper aims to analyze the shared leadership phenomenon in Italian listed firms. In particular, it analyzes the spread of dual leadership, i.e., the presence of two Chief Executive Officers (co-CEOs) at the top of the firm. Recent studies indicate that the shared leadership phenomenon is growing internationally. Literature also underlines that the appointment of co-CEOs is one of the possible organizational responses to manage effectively the growing external complexity. In fact, the appointment of co-CEOs would allow the firm to expand the range of managerial skills and experiences available. In this paper, we analyze this phenomenon among the Italian listed firms in the period 2005-2014. Our results confirm the growing diffusion of shared leadership models, especially in family businesses. They also provide some useful indications regarding the selection of top managers and the configuration of leadership models at the top of firms.

Keywords: ; shared leadership; co-leadership; co-CEOs; top managers; corporate governance

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  69. Pearce C.L., Sims H.P. (2000). Shared leadership: Toward a multi-level theory of leadership. In: Beyerlein M., Johnson D., Beyerlein S. (Eds.). Advances in the Interdisciplinary Studies of Work Teams. New York, NY: JAI Press, vol. 7, pp. 115-139.
  70. Sally D. (2002). Co-leadership: Lessons from republican Rome. California Management Review, 44(4): 84-99. DOI: 10.2307/41166144.
  71. Simon H.A. (1997). Administrative Behavior: A Study of Decision-making Processes. In: Administrative Organizations (3rd edn). New York: Collier Macmillan.
  72. Schulze W.S., Lubatkin M.H., Dino R.N. (2002). Altruism, agency, and the competitiveness of family firms. Managerial Decision Economics, 23(4-5): 247-259. DOI: 10.1002/mde.1064.
  73. Villalonga B., Amit R. (2006). How do family ownership, control and management affect firm value? Journal of Financial Economics, 80(2): 385-417. DOI: 10.1016/j.jfineco.2004.12.005.
  74. Zattoni A. (2019). The evolution of corporate governance in Italy: formal convergence or path-dependence? Corporate Governance and Research & Development Studies, 1: 13-35. DOI: 10.3280/cgrds1-2019oa8799.

  • CEO Succession and Shared Leadership: Which factors shape firm performance? Fabio Quarato, Domenico Rocco Cambrea, Francesco Laviola, in CORPORATE GOVERNANCE AND RESEARCH & DEVELOPMENT STUDIES 1/2023 pp.103
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