Family Ownership During the Covid-19 Pandemic

Mario Amore (), Fabio Quarato and Valerio Pelucco

No 14759, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: Prompted by the shakeup of Covid-19 on financial markets, scholars have begun to explore the corporate traits that can make firms more resilient to a pandemic. In this paper, we test how the involvement of families in ownership and governance positions influences the financial performance of Italian listed firms during the spread of Covid-19. Our results indicate that firms with controlling family shareholders fared significantly better than other firms in the pandemic period. This effect is particularly pronounced among firms in which a family is both the controlling shareholder and holds the CEO position. Collectively, our results expand existing knowledge on the determinants of organizational resilience in the wake of adverse events.

Keywords: Family business; Covid-19; Financial performance; Ceos (search for similar items in EconPapers)
JEL-codes: D10 G34 (search for similar items in EconPapers)
Date: 2020-05
New Economics Papers: this item is included in nep-bec, nep-cfn, nep-eur, nep-hrm and nep-sbm
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Citations: View citations in EconPapers (9)

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Journal Article: Family ownership during the Covid-19 pandemic (2022)
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