Marco Cucculelli is Associate Professor at Department of Economics and Social Studies, Università Politecnica delle Marche.
Owner-Management, Firm Age, and Productivity in Italian Family Firms
Article first published online: 12 MAR 2014
© 2014 International Council for Small Business
Journal of Small Business Management
Special Issue: Family Firms, Entrepreneurship, and Economic Development
Volume 52, Issue 2, pages 325–343, April 2014
How to Cite
Cucculelli, M., Mannarino, L., Pupo, V. and Ricotta, F. (2014), Owner-Management, Firm Age, and Productivity in Italian Family Firms. Journal of Small Business Management, 52: 325–343. doi: 10.1111/jsbm.12103
- Issue published online: 12 MAR 2014
- Article first published online: 12 MAR 2014
Using total factor productivity 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. Also, when considering family-owned firms only, there is no difference in performance between outside managers and family managers.