메뉴 건너뛰기




Volumn 16, Issue 5, 2010, Pages 381-411

Does the CFO matter in family firms? Evidence from Italy

Author keywords

CEO; CFO; Family firm; Italy; Small business

Indexed keywords


EID: 77954515392     PISSN: 1351847X     EISSN: 14664364     Source Type: Journal    
DOI: 10.1080/13518470903211657     Document Type: Article
Times cited : (39)

References (54)
  • 1
    • 57649174168 scopus 로고    scopus 로고
    • Understanding the relationship between founder-CEOs and firm performance
    • Adams, R.B., H. Almeida, and D. Ferreira. 2009. Understanding the relationship between founder-CEOs and firm performance. Journal of Empirical Finance 16, no. 1: 136-50.
    • (2009) Journal of Empirical Finance , vol.16 , Issue.1 , pp. 136-150
    • Adams, R.B.1    Almeida, H.2    Ferreira, D.3
  • 2
    • 0142219280 scopus 로고    scopus 로고
    • Founding family ownership and firm performance: Evidence from the S&P 500
    • Anderson, R., and D.M. Reeb. 2003. Founding family ownership and firm performance: Evidence from the S&P 500. Journal of Finance 58, no. 3: 1301-29.
    • (2003) Journal of Finance , vol.58 , Issue.3 , pp. 1301-1329
    • Anderson, R.1    Reeb, D.M.2
  • 3
    • 0037404877 scopus 로고    scopus 로고
    • Founding family ownership and the agency cost of debt
    • Anderson, R., S. Mansi, and D.M. Reeb. 2003. Founding family ownership and the agency cost of debt. Journal of Financial Economics 68, no. 2: 263-85.
    • (2003) Journal of Financial Economics , vol.68 , Issue.2 , pp. 263-285
    • Anderson, R.1    Mansi, S.2    Reeb, D.M.3
  • 4
    • 0013099398 scopus 로고    scopus 로고
    • Agency costs and ownership structure
    • Ang, J., R. Cole, and J. Lin. 2000. Agency costs and ownership structure. Journal of Finance 55, no. 1: 81-106.
    • (2000) Journal of Finance , vol.55 , Issue.1 , pp. 81-106
    • Ang, J.1    Cole, R.2    Lin, J.3
  • 5
    • 20144362722 scopus 로고    scopus 로고
    • Megatrends in family business
    • Aronoff, C.E. 1998. Megatrends in family business. Family Business Review 11, no. 3: 181-5.
    • (1998) Family Business Review , vol.11 , Issue.3 , pp. 181-185
    • Aronoff, C.E.1
  • 7
    • 0001202725 scopus 로고    scopus 로고
    • The economics of small business finance: The roles of private equity and debt markets in the financial growth cycle
    • Berger, A.N., and G. Udell. 1998. The economics of small business finance: The roles of private equity and debt markets in the financial growth cycle. Journal of Banking and Finance 22, no. 6: 613-73.
    • (1998) Journal of Banking and Finance , vol.22 , Issue.6 , pp. 613-673
    • Berger, A.N.1    Udell, G.2
  • 8
    • 46049111810 scopus 로고    scopus 로고
    • Mixing family with business:A study of Thai business groups and the families behind them
    • Bertrand, M., S. Johnson, K. Samphantharak, and A. Schoar. 2008. Mixing family with business:A study of Thai business groups and the families behind them. Journal of Financial Economics 88, no. 3: 466-98.
    • (2008) Journal of Financial Economics , vol.88 , Issue.3 , pp. 466-498
    • Bertrand, M.1    Johnson, S.2    Samphantharak, K.3    Schoar, A.4
  • 9
    • 0031531227 scopus 로고    scopus 로고
    • The relationship between U.K. banks and their small business customers
    • Binks, M.R, and C.T. Ennew. 1997. The relationship between U.K. banks and their small business customers. Small Business Economics 9, no. 2: 167-78.
    • (1997) Small Business Economics , vol.9 , Issue.2 , pp. 167-178
    • Binks, M.R.1    Ennew, C.T.2
  • 11
    • 0347493721 scopus 로고    scopus 로고
    • Financial services used by small businesses: Evidence from the 1998 Survey of Small Business Finances
    • April 2001
    • Bitler, M.P., A.M. Robb, and J.D. Wolken. 2001. Financial services used by small businesses: Evidence from the 1998 Survey of Small Business Finances. Federal Reserve Bulletin, April 2001.
    • (2001) Federal Reserve Bulletin
    • Bitler, M.P.1    Robb, A.M.2    Wolken, J.D.3
  • 12
    • 0003139440 scopus 로고    scopus 로고
    • Relationship banking: What do we know?
    • Boot, A.W.A. 2000. Relationship banking: What do we know? Journal of Financial Intermediation 9, no. 1: 7-25.
    • (2000) Journal of Financial Intermediation , vol.9 , Issue.1 , pp. 7-25
    • Boot, A.W.A.1
  • 13
    • 0032393343 scopus 로고    scopus 로고
    • Availability of credit to family businesses
    • Bopaiah, C. 1998. Availability of credit to family businesses. Small Business Economics 11, no. 1: 75-86.
    • (1998) Small Business Economics , vol.11 , Issue.1 , pp. 75-86
    • Bopaiah, C.1
  • 17
  • 18
    • 0013096831 scopus 로고    scopus 로고
    • Working paper, University of Notre Dame and the International Monetary Fund, Washington DC
    • Chami, R. 1997. What's different about family business? Working paper, University of Notre Dame and the International Monetary Fund, Washington DC.
    • (1997) What's Different About Family Business?
    • Chami, R.1
  • 19
    • 27844544646 scopus 로고    scopus 로고
    • Comparing the agency costs of family and non-family firms: Conceptual issues and exploratory evidence
    • Chrisman, J.J., J.H. Chua, and R.A. Litz. 2004. Comparing the agency costs of family and non-family firms: Conceptual issues and exploratory evidence. Entrepreneurship Theory & Practice 28, no. 4: 335-54.
    • (2004) Entrepreneurship Theory & Practice , vol.28 , Issue.4 , pp. 335-354
    • Chrisman, J.J.1    Chua, J.H.2    Litz, R.A.3
  • 20
    • 0000200532 scopus 로고    scopus 로고
    • Disentangling the incentive and entrenchment effects of large shareholdings
    • Claessens, S., S. Djankov, J.P.H. Fan, and L.H.P. Lang. 2002. Disentangling the incentive and entrenchment effects of large shareholdings. Journal of Finance 57, no. 6: 2741-72.
    • (2002) Journal of Finance , vol.57 , Issue.6 , pp. 2741-2772
    • Claessens, S.1    Djankov, S.2    Fan, J.P.H.3    Lang, L.H.P.4
  • 21
    • 0042829594 scopus 로고    scopus 로고
    • Separation of ownership from control of East Asian firms
    • Claessens, S., S. Djankov, and L.H.P. Lang. 2000. Separation of ownership from control of East Asian firms. Journal of Financial Economics 58, no. 1: 81-112.
    • (2000) Journal of Financial Economics , vol.58 , Issue.1 , pp. 81-112
    • Claessens, S.1    Djankov, S.2    Lang, L.H.P.3
  • 22
    • 0001541507 scopus 로고
    • Financial services used by small business: Evidence from the 1993 National Survey on Small Business Finances
    • July 1995
    • Cole, R., and J. Wolken. 1995. Financial services used by small business: Evidence from the 1993 National Survey on Small Business Finances. Federal Reserve Bulletin, July 1995.
    • (1995) Federal Reserve Bulletin
    • Cole, R.1    Wolken, J.2
  • 23
    • 27844468085 scopus 로고    scopus 로고
    • Sources of capital for small family-owned businesses: Evidence from the National Survey of Small Business Finances
    • Coleman, S., and R. Carsky. 1999. Sources of capital for small family-owned businesses: Evidence from the National Survey of Small Business Finances. Family Business Review 12, no. 1: 73-85.
    • (1999) Family Business Review , vol.12 , Issue.1 , pp. 73-85
    • Coleman, S.1    Carsky, R.2
  • 24
    • 0041996097 scopus 로고    scopus 로고
    • Ownership, governance, and management issues in small and medium-size family businesses: A comparison of Italy and the United States
    • Corbetta, G., and D. Montemerlo. 1999. Ownership, governance, and management issues in small and medium-size family businesses: A comparison of Italy and the United States. Family Business Review 12, no. 4: 361-74.
    • (1999) Family Business Review , vol.12 , Issue.4 , pp. 361-374
    • Corbetta, G.1    Montemerlo, D.2
  • 25
    • 27844586778 scopus 로고    scopus 로고
    • Self-serving or self-actualizing? Models of man and agency costs in different types of family firms: A commentary on comparing the agency costs of family and nonfamily firms: Conceptual issues and exploratory evidence
    • Corbetta, G., and C. Salvato. 2004. Self-serving or self-actualizing? Models of man and agency costs in different types of family firms: A commentary on comparing the agency costs of family and nonfamily firms: Conceptual issues and exploratory evidence. Entrepreneurship Theory & Practice 28, no. 4: 355-62.
    • (2004) Entrepreneurship Theory & Practice , vol.28 , Issue.4 , pp. 355-362
    • Corbetta, G.1    Salvato, C.2
  • 28
    • 84935941592 scopus 로고
    • The structure of corporate ownership: Causes and consequences
    • Demsetz, H., and K. Lehn. 1985. The structure of corporate ownership: Causes and consequences. Journal of Political Economy 93, no. 6: 1155-77.
    • (1985) Journal of Political Economy , vol.93 , Issue.6 , pp. 1155-1177
    • Demsetz, H.1    Lehn, K.2
  • 29
    • 84965919328 scopus 로고
    • Are family businesses really different? European experiences from Stratos
    • Donckels, R., and E. Fröhlich. 1991. Are family businesses really different? European experiences from Stratos. Family Business Review 4, no. 2: 149-60.
    • (1991) Family Business Review , vol.4 , Issue.2 , pp. 149-160
    • Donckels, R.1    Fröhlich, E.2
  • 30
    • 0036334425 scopus 로고    scopus 로고
    • The ultimate ownership of western European corporations
    • Faccio, M., and L. Lang. 2002.The ultimate ownership of western European corporations. Journal of Financial Economics 65, no. 3: 365-95.
    • (2002) Journal of Financial Economics , vol.65 , Issue.3 , pp. 365-395
    • Faccio, M.1    Lang, L.2
  • 32
    • 33747756687 scopus 로고    scopus 로고
    • Financial management techniques in family businesses
    • Filbeck, G., and S. Lee. 2000. Financial management techniques in family businesses. Family Business Review 13, no. 3: 201-17.
    • (2000) Family Business Review , vol.13 , Issue.3 , pp. 201-217
    • Filbeck, G.1    Lee, S.2
  • 33
    • 84973706278 scopus 로고
    • Succession in family firms: The problem of resistance
    • Handler, W., and K. Kram. 1988. Succession in family firms: The problem of resistance. Family Business Review 1, no. 4: 361-81.
    • (1988) Family Business Review , vol.1 , Issue.4 , pp. 361-381
    • Handler, W.1    Kram, K.2
  • 34
    • 0000712212 scopus 로고    scopus 로고
    • Understanding the determinants of managerial ownership and the link between ownership and performance
    • Himmelberg, C., G. Hubbard, and D. Palia. 1999. Understanding the determinants of managerial ownership and the link between ownership and performance. Journal of Financial Economics 53, no. 3: 353-84.
    • (1999) Journal of Financial Economics , vol.53 , Issue.3 , pp. 353-384
    • Himmelberg, C.1    Hubbard, G.2    Palia, D.3
  • 35
    • 0000165393 scopus 로고
    • The role of majority shareholders in publicly held corporations
    • Holderness, C.G., and D.P. Sheehan. 1988. The role of majority shareholders in publicly held corporations. Journal of Financial Economics 20, no. 1-2: 317-46.
    • (1988) Journal of Financial Economics , vol.20 , Issue.1-2 , pp. 317-346
    • Holderness, C.G.1    Sheehan, D.P.2
  • 36
    • 85066184383 scopus 로고    scopus 로고
    • Owner as manger, extended horizons and family firm
    • James, H. 1999. Owner as manger, extended horizons and family firm. International Journal of Economics of Business 6, no. 1: 41-56.
    • (1999) International Journal of Economics of Business , vol.6 , Issue.1 , pp. 41-56
    • James, H.1
  • 37
    • 39449136740 scopus 로고    scopus 로고
    • Anexploratorystudyoffamilymembercharacteristics and involvement: Effects on entrepreneurial behaviour in the family firms
    • Kellermanns, F.W., A.E. Kimberly, T. Barnett, and A. Pearson.2008.Anexploratorystudyoffamilymembercharacteristics and involvement: Effects on entrepreneurial behaviour in the family firms. Family Business Review 21, no. 1: 1-14.
    • (2008) Family Business Review , vol.21 , Issue.1 , pp. 1-14
    • Kellermanns, F.W.1    Kimberly, A.E.2    Barnett, T.3    Pearson, A.4
  • 39
    • 33645896609 scopus 로고
    • Management ownership and market valuation: An empirical analysis
    • Morck, R.K., A. Shleifer, and R. Vishny. 1988. Management ownership and market valuation: An empirical analysis. Journal of Financial Economics 20, no. 1-2: 293-315.
    • (1988) Journal of Financial Economics , vol.20 , Issue.1-2 , pp. 293-315
    • Morck, R.K.1    Shleifer, A.2    Vishny, R.3
  • 40
    • 0003293001 scopus 로고    scopus 로고
    • Inherited wealth, corporate control, and economic growth. The Canadian disease?
    • ed. R.K. Morck, Chicago, IL: University of Chicago Press
    • Morck, R.K., D.A. Stangeland, and B. Yeung. 2000. Inherited wealth, corporate control, and economic growth. The Canadian disease? In Concentrated corporate ownership, ed. R.K. Morck, 319-69. Chicago, IL: University of Chicago Press.
    • (2000) Concentrated Corporate Ownership , pp. 319-369
    • Morck, R.K.1    Stangeland, D.A.2    Yeung, B.3
  • 43
    • 33847607987 scopus 로고    scopus 로고
    • Inherited control and firm performance
    • Perez-Gonzalez, F. 2006. Inherited control and firm performance. American Economic Review 96, no. 5: 1559-88.
    • (2006) American Economic Review , vol.96 , Issue.5 , pp. 1559-1588
    • Perez-Gonzalez, F.1
  • 44
  • 45
    • 79958057478 scopus 로고    scopus 로고
    • Myths and realities: Family business's contribution to the US economy -A framework for assessing family business Statistics
    • Shanken, M. and J. Astrachan. 1996. Myths and realities: family business's contribution to the US economy -A framework for assessing family business Statistics. Family Business Review 9, no. 2: 107-23.
    • (1996) Family Business Review , vol.9 , Issue.2 , pp. 107-123
    • Shanken, M.1    Astrachan, J.2
  • 46
    • 84936823587 scopus 로고
    • Large shareholders and corporate control
    • Shleifer, A., and R. Vishny. 1986. Large shareholders and corporate control. Journal of Political Economy 94, no. 3: 461-88.
    • (1986) Journal of Political Economy , vol.94 , Issue.3 , pp. 461-488
    • Shleifer, A.1    Vishny, R.2
  • 47
    • 0031521639 scopus 로고    scopus 로고
    • Nepotism, discrimination and the persistence of utility maximizing, owner-operated firms
    • Singell, L. 1997. Nepotism, discrimination and the persistence of utility maximizing, owner-operated firms. Southern Economics Journal 63, no. 4: 904-20.
    • (1997) Southern Economics Journal , vol.63 , Issue.4 , pp. 904-920
    • Singell, L.1
  • 48
    • 0011704316 scopus 로고    scopus 로고
    • Management succession and financial performance of family controlled firms
    • Smith, B.F., and B. Amoako-Adu. 1999. Management succession and financial performance of family controlled firms. Journal of Corporate Finance 5, no. 4: 341-68.
    • (1999) Journal of Corporate Finance , vol.5 , Issue.4 , pp. 341-368
    • Smith, B.F.1    Amoako-Adu, B.2
  • 49
    • 84934564015 scopus 로고
    • Takeover threats and managerial myopia
    • Stein, J. 1988. Takeover threats and managerial myopia. Journal of Political Economy 96: 61-80.
    • (1988) Journal of Political Economy , vol.96 , pp. 61-80
    • Stein, J.1
  • 50
    • 84960562707 scopus 로고
    • Efficient capital markets, inefficient firms: A model of myopic corporate behaviour
    • Stein, J. 1989. Efficient capital markets, inefficient firms: A model of myopic corporate behaviour. Quarterly Journal of Economics 103, no. 1: 655-69.
    • (1989) Quarterly Journal of Economics , vol.103 , Issue.1 , pp. 655-669
    • Stein, J.1
  • 52
    • 33646477423 scopus 로고    scopus 로고
    • How do family ownership, control and management affect firm value?
    • Villalonga, B., and R. Amit. 2006. How do family ownership, control and management affect firm value? Journal of Financial Economics 80, no. 2: 385-417.
    • (2006) Journal of Financial Economics , vol.80 , Issue.2 , pp. 385-417
    • Villalonga, B.1    Amit, R.2
  • 53
    • 33845371207 scopus 로고    scopus 로고
    • Ownership and management issues associated with family firm performance and company objectives
    • Westhead, P., and C. Howorth. 2006. Ownership and management issues associated with family firm performance and company objectives. Family Business Review 19, no. 4: 301-17.
    • (2006) Family Business Review , vol.19 , Issue.4 , pp. 301-317
    • Westhead, P.1    Howorth, C.2
  • 54
    • 0003300715 scopus 로고    scopus 로고
    • Understanding the determination of managerial ownership and its relationship to firm performance
    • Zhou, X. 2001. Understanding the determination of managerial ownership and its relationship to firm performance. Journal of Financial Economics 62, no. 3: 559-71.
    • (2001) Journal of Financial Economics , vol.62 , Issue.3 , pp. 559-571
    • Zhou, X.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.