ABSTRACT
Family firms are a very heterogeneous group with respect to size, branch, age and structure. This chapter focuses on Italian family firms, which represent the backbone of the Italian economic system. Research on family firms exists at the crossroads of a plethora of theories on the firm, ranging from agency theory to the behavioural agency paradigm and ending with the resource-based view. The chapter explores the current state of research regarding performance of Italian family firms, and, specifically, the relationships between family ownership concentration, presence of CEO duality, presence of family directors, presence of women on the board and overall performance of the firm. Gender diversification is another significant attribute in the sample of family firms. Regarding the role of female members in family firms' management boards, the research underlines a highly positive impact: female members tend to be associated with superior performance, innovative management practices and an overall better organizational climate.
