Management Controlling and Governance of Family Businesses: Theoretical Insights and Empirical Evidence from Italy PDF
Preview Management Controlling and Governance of Family Businesses: Theoretical Insights and Empirical Evidence from Italy
Contributions to Management Science Antonio Leotta Editor Management Controlling and Governance of Family Businesses Theoretical Insights and Empirical Evidence from Italy Contributions to Management Science The series Contributions to Management Science contains research publications in all fields of business and management science. These publications are primarily monographs and multiple author works containing new research results, and also featureselectedconference-basedpublicationsarealsoconsidered.Thefocusofthe seriesliesinpresentingthedevelopmentoflatesttheoreticalandempiricalresearch across different viewpoints. This book series is indexed in Scopus. More information about this series at http://www.springer.com/series/1505 Antonio Leotta Editor Management Controlling and Governance of Family Businesses Theoretical Insights and Empirical Evidence from Italy 123 Editor AntonioLeotta Department ofEconomics andBusiness University of Catania Catania, Italy ISSN 1431-1941 ISSN 2197-716X (electronic) Contributions toManagement Science ISBN978-3-030-47740-0 ISBN978-3-030-47741-7 (eBook) https://doi.org/10.1007/978-3-030-47741-7 ©SpringerNatureSwitzerlandAG2020 Thisworkissubjecttocopyright.AllrightsarereservedbythePublisher,whetherthewholeorpart of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission orinformationstorageandretrieval,electronicadaptation,computersoftware,orbysimilarordissimilar methodologynowknownorhereafterdeveloped. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publicationdoesnotimply,evenintheabsenceofaspecificstatement,thatsuchnamesareexemptfrom therelevantprotectivelawsandregulationsandthereforefreeforgeneraluse. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, expressed or implied, with respect to the material contained hereinorforanyerrorsoromissionsthatmayhavebeenmade.Thepublisherremainsneutralwithregard tojurisdictionalclaimsinpublishedmapsandinstitutionalaffiliations. ThisSpringerimprintispublishedbytheregisteredcompanySpringerNatureSwitzerlandAG Theregisteredcompanyaddressis:Gewerbestrasse11,6330Cham,Switzerland Dedicated to our families Contents Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Antonio Leotta Governing Family Business Challenges. Theoretical Insights An Overview of Family Business. Profiles, Definitions and the Main Challenges of the Business Life Cycle. . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Antonio Leotta, Carmela Rizza, and Daniela Ruggeri Professionalization and Managerialization in Family Firms: A Still Open Issue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 Cristiana Cattaneo and Gaia Bassani The Survival of Family Businesses: The Challenge of Succession. . . . . . 51 Annalisa Sentuti and Francesca M. Cesaroni The Growth of Family Businesses: The Path to Internationalization . . . 75 Elena Cristiano Investment Decisions in Listed Family Firms: Risk Aversion and Emotional Attachment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 97 Claudia Frisenna and Davide Rizzotti Governing Family Businesses: A Research Map. . . . . . . . . . . . . . . . . . . 109 Gaia Bassani, Cristiana Cattaneo, Elena Cristiano, and Antonio Leotta Field and Empirical Evidence on Governing Family Business Challenges from Italian Family Firms Learning Financial Language to Face Ongoing Challenges. The Case of Greenlife. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 143 Antonio Leotta, Carmela Rizza, and Daniela Ruggeri vii viii Contents Professionalization and Managerialization: Original Levers from Molino Nicoli Spa . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 161 Gaia Bassani, Cristiana Cattaneo, Francesca M. Cesaroni, and Annalisa Sentuti Beyond the Founder. Which Conditions Can Favor or Hinder the Professionalization of Family Firms? . . . . . . . . . . . . . . . . . . . . . . . . 181 Annalisa Sentuti, Francesca M. Cesaroni, Gaia Bassani, and Cristiana Cattaneo Internationalisation in Family Businesses. The Case of Mamagra . . . . . 195 Elena Cristiano Family Ownership and Investment Decisions. An Empirical Analysis on the Role of Board Monitoring and CEO Emotional Attachment. . . . 213 Claudia Frisenna and Davide Rizzotti Discussing and Concluding Remarks . . . . . . . . . . . . . . . . . . . . . . . . . . . 225 Antonio Leotta Contributors GaiaBassani DepartmentofManagement,EconomicsandQuantitativeMethods, University of Bergamo, Bergamo, Italy Cristiana Cattaneo Department of Management, Economics and Quantitative Methods, University of Bergamo, Bergamo, Italy Francesca M. Cesaroni Department of Economics, Society, Politics, University of Urbino Carlo Bo, Urbino, Italy Elena Cristiano Department of Business Economics and Law, University of Calabria, Rende, Italy ClaudiaFrisenna DepartmentofEconomicsandBusiness,UniversityofCatania, Catania, Italy Antonio Leotta Department of Economics and Business, University of Catania, Catania, Italy Carmela Rizza Department of Economics and Business, University of Catania, Catania, Italy Davide Rizzotti Department of Economics and Business, University of Catania, Catania, Italy Daniela Ruggeri Department of Economics and Business, University of Catania, Catania, Italy Annalisa Sentuti Department of Economics, Society, Politics, University of Urbino Carlo Bo, Urbino, Italy ix List of Figures Professionalization and Managerialization in Family Firms: A Still Open Issue ... .... ..... .... .... .... .... .... ..... .... .. Fig. 1 Aspects of professionalization: a synthesis.... .... ..... .... .. 34 Fig. 2 Relationship between professionalization and managerialization. .. 43 The Growth of Family Businesses: The Path to Internationalization. .. Fig. 1 Classification of the modalities of internationalization .... .... .. 86 Governing Family Businesses: A Research Map .... .... ..... .... .. Fig. 1 Relationships between topics .. .... .... .... .... ..... .... .. 126 Fig. 2 Conceptual framework ... .... .... .... .... .... ..... .... .. 132 Learning Financial Language to Face Ongoing Challenges. The Case of Greenlife .... ..... .... .... .... .... .... ..... .... .. Fig. 1 Gantt chart of Greenlife’s development processes... ..... .... .. 155 Professionalization and Managerialization: Original Levers from Molino Nicoli Spa... ..... .... .... .... .... .... ..... .... .. Fig. 1 Timeline. .... .... ..... .... .... .... .... .... ..... .... .. 164 Fig. 2 Organizational chart ..... .... .... .... .... .... ..... .... .. 165 Fig. 3 Turnover (KEuro) 2010–2018.. .... .... .... .... ..... .... .. 168 Fig.4 EmergingleversaccordingtotheframeworkpresentedinChapter “Professionalization and Managerialization in Family Firms: A Still Open Issue”. ..... .... .... .... .... .... ..... .... .. 176 xi
The list of books you might like
