This paper analyses the effects that the family status (family vs. non-family) of the chief financial officer (CFO) has on small and medium-sized family firms (SMFFs) performance. We analyse these effects also considering the family status of the chief executive officer (CEO) and across generations. Using data from 630 Italian SMFFs during the period 2011-2013, our results show that: 1) a non-family CFO has a positive effect on firm performance; 2) the best performance is achieved when the CEO is a family member and the CFO is not; 3) across generations, a non-family CFO has always a positive effect on firm performance and reduces the agency costs.

Gordini, N. (2016). Does the family status of the CFO matter to enhance family firm performance? Evidence from a sample of small and medium-sized Italian family firms. INTERNATIONAL JOURNAL OF ENTREPRENEURSHIP AND SMALL BUSINESS, 28(1), 36-57 [10.1504/IJESB.2016.075681].

Does the family status of the CFO matter to enhance family firm performance? Evidence from a sample of small and medium-sized Italian family firms

GORDINI, NICCOLO'
Primo
2016

Abstract

This paper analyses the effects that the family status (family vs. non-family) of the chief financial officer (CFO) has on small and medium-sized family firms (SMFFs) performance. We analyse these effects also considering the family status of the chief executive officer (CEO) and across generations. Using data from 630 Italian SMFFs during the period 2011-2013, our results show that: 1) a non-family CFO has a positive effect on firm performance; 2) the best performance is achieved when the CEO is a family member and the CFO is not; 3) across generations, a non-family CFO has always a positive effect on firm performance and reduces the agency costs.
Articolo in rivista - Articolo scientifico
CFO; Chief financial officer; Entrepreneurship; Family firms; Generational effects; Performance; Small business;
Chief financial officer; small and medium-sized family firms; performance; generational effects
English
2-mar-2016
2016
28
1
36
57
none
Gordini, N. (2016). Does the family status of the CFO matter to enhance family firm performance? Evidence from a sample of small and medium-sized Italian family firms. INTERNATIONAL JOURNAL OF ENTREPRENEURSHIP AND SMALL BUSINESS, 28(1), 36-57 [10.1504/IJESB.2016.075681].
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/10281/87841
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