CEO Succession and Shared Leadership: Which factors shape firm performance?

Titolo Rivista CORPORATE GOVERNANCE AND RESEARCH & DEVELOPMENT STUDIES
Autori/Curatori Fabio Quarato, Domenico Rocco Cambrea, Francesco Laviola
Anno di pubblicazione 2023 Fascicolo 2023/1
Lingua Inglese Numero pagine 28 P. 103-130 Dimensione file 0 KB
DOI 10.3280/cgrds1-2023oa15766
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This paper investigates the effect of CEO succession on the performance of family firms characterized by collegial leadership and the moderating role of the Family CEO, of the board of directors and by the size of the firm. The empirical analysis, carried out on a sample of Italian family firms for the years 2012-2016, shows a positive effect of succession on the performance of family businesses with shared leadership. Moreover, this relationship is negatively moderated by the composition of the co-leadership structure, the characteristics of the board of directors and the size of the firm.

Questo paper studia l’effetto delle successioni sulle performance delle imprese familiari caratterizzate da leadership collegiale e il ruolo di moderazione svolto dalla presenza del CEO familiare, dal consiglio di amministrazione e dalla dimensione dell’impresa. L’analisi empirica, svolta su un campione di imprese familiari italiane per gli anni 2012-2016, mostra un effetto positivo delle successioni sulle performance delle imprese familiari caratterizzate da leadership collegiale. Tuttavia, questa relazione è negativamente moderata dalla composizione della struttura della leadership collegiale, dalle caratteristiche del consiglio di amministrazione e dalla dimensione dell’impresa.

Keywords:; leadership condivisa; successione; imprese familiari; performance

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Fabio Quarato, Domenico Rocco Cambrea, Francesco Laviola, CEO Succession and Shared Leadership: Which factors shape firm performance? in "CORPORATE GOVERNANCE AND RESEARCH & DEVELOPMENT STUDIES" 1/2023, pp 103-130, DOI: 10.3280/cgrds1-2023oa15766