Corporate Governance and Firm Value in Italy, 1st ed. 2021 How Directors and Board Members Matter Contributions to Finance and Accounting Series

This book expands on the literature on the characteristics of management boards by especially focusing on family-listed and family-controlled companies, as they are ideal for studying board heterogeneity. It uses specific multidimensional indices and in-depth econometric analysis to introduce new variables, such as international experience, that represent a source of competitive advantage for firms in today?s globalized world. In addition, by examining the heterogeneity ratio and the representation of independent and family directors, the book demonstrates how family-controlled firms use independent directors to import their heterogeneous expertise.  

The book makes a threefold contribution: for regulators, it offers suggestions on improving the quality of reporting in family-controlled firms; for researchers, it demonstrates the importance of including directors? characteristics apart from the firm-specific factors in their analyses; and for practitioners, it shows that selecting directors with specific characteristics can have a substantial impact on firms? performance.