CEO as board chair in listed family firms

Family firms often opt for a combined CEO and board chair positions, yet the implications of such leadership structure on firm performance remain a subject of scholarly debate. We introduce the socioemotional wealth (SEW) perspective as a unifying framework that bridges the divergent views of stewar...

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Autores: Ponomareva, Yuliya|||0000-0002-8009-9949, Cambrea, Domenico Rocco|||0000-0002-2412-4839, Quarato, Fabio, Tenuta, Paolo
Formato: artículo
Fecha de publicación:2023
País:España
Recursos:Universitat Autònoma de Barcelona
Repositorio:Dipòsit Digital de Documents de la UAB
Idioma:inglés
OAI Identifier:oai:ddd.uab.cat:306395
Acesso em linha:https://ddd.uab.cat/record/306395
https://dx.doi.org/urn:doi:10.1111/emre.12613
Access Level:acceso abierto
Palavra-chave:CEO duality
Family firms
Firm performance
Socioemotional wealth (SEW)
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spelling CEO as board chair in listed family firmsa test of the performance effects during an economic crisisPonomareva, Yuliya|||0000-0002-8009-9949Cambrea, Domenico Rocco|||0000-0002-2412-4839Quarato, FabioTenuta, PaoloCEO dualityFamily firmsFirm performanceSocioemotional wealth (SEW)Family firms often opt for a combined CEO and board chair positions, yet the implications of such leadership structure on firm performance remain a subject of scholarly debate. We introduce the socioemotional wealth (SEW) perspective as a unifying framework that bridges the divergent views of stewardship and agency theories. We argue that the effects of CEO duality on performance are contingent upon the balance between extended and restricted SEW priorities. Drawing on a sample of listed companies on the Milan Stock Exchange between 2003 and 2015, our empirical analysis reveals that listed family firms derive greater benefits from CEO duality compared to their non-family counterparts. Moreover, our findings demonstrate that such leadership structure renders the highest performance benefits in listed family firms when the CEO-chair is not a family member, particularly during periods of economic crisis.Wiley-Blackwell 22023-01-0120232023-01-01Articlehttp://purl.org/coar/resource_type/c_6501VoRhttp://purl.org/coar/version/c_970fb48d4fbd8a85info:eu-repo/semantics/articleapplication/pdfhttps://ddd.uab.cat/record/306395https://dx.doi.org/urn:doi:10.1111/emre.12613reponame:Dipòsit Digital de Documents de la UABinstname:Universitat Autònoma de BarcelonaInglésengAgencia Estatal de Investigación https://doi.org/10.13039/501100011033 PID2020-115018RB-C32open accesshttp://purl.org/coar/access_right/c_abf2Aquest document està subjecte a una llicència d'ús Creative Commons. Es permet la reproducció total o parcial, la distribució, i la comunicació pública de l'obra, sempre que no sigui amb finalitats comercials, i sempre que es reconegui l'autoria de l'obra original. No es permet la creació d'obres derivades.https://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccessoai:ddd.uab.cat:3063952026-06-06T12:50:31Z
dc.title.none.fl_str_mv CEO as board chair in listed family firms
a test of the performance effects during an economic crisis
title CEO as board chair in listed family firms
spellingShingle CEO as board chair in listed family firms
Ponomareva, Yuliya|||0000-0002-8009-9949
CEO duality
Family firms
Firm performance
Socioemotional wealth (SEW)
title_short CEO as board chair in listed family firms
title_full CEO as board chair in listed family firms
title_fullStr CEO as board chair in listed family firms
title_full_unstemmed CEO as board chair in listed family firms
title_sort CEO as board chair in listed family firms
dc.creator.none.fl_str_mv Ponomareva, Yuliya|||0000-0002-8009-9949
Cambrea, Domenico Rocco|||0000-0002-2412-4839
Quarato, Fabio
Tenuta, Paolo
author Ponomareva, Yuliya|||0000-0002-8009-9949
author_facet Ponomareva, Yuliya|||0000-0002-8009-9949
Cambrea, Domenico Rocco|||0000-0002-2412-4839
Quarato, Fabio
Tenuta, Paolo
author_role author
author2 Cambrea, Domenico Rocco|||0000-0002-2412-4839
Quarato, Fabio
Tenuta, Paolo
author2_role author
author
author
dc.subject.none.fl_str_mv CEO duality
Family firms
Firm performance
Socioemotional wealth (SEW)
topic CEO duality
Family firms
Firm performance
Socioemotional wealth (SEW)
description Family firms often opt for a combined CEO and board chair positions, yet the implications of such leadership structure on firm performance remain a subject of scholarly debate. We introduce the socioemotional wealth (SEW) perspective as a unifying framework that bridges the divergent views of stewardship and agency theories. We argue that the effects of CEO duality on performance are contingent upon the balance between extended and restricted SEW priorities. Drawing on a sample of listed companies on the Milan Stock Exchange between 2003 and 2015, our empirical analysis reveals that listed family firms derive greater benefits from CEO duality compared to their non-family counterparts. Moreover, our findings demonstrate that such leadership structure renders the highest performance benefits in listed family firms when the CEO-chair is not a family member, particularly during periods of economic crisis.
publishDate 2023
dc.date.none.fl_str_mv 2
2023-01-01
2023
2023-01-01
dc.type.none.fl_str_mv Article
http://purl.org/coar/resource_type/c_6501
VoR
http://purl.org/coar/version/c_970fb48d4fbd8a85
dc.type.openaire.fl_str_mv info:eu-repo/semantics/article
format article
dc.identifier.none.fl_str_mv https://ddd.uab.cat/record/306395
https://dx.doi.org/urn:doi:10.1111/emre.12613
url https://ddd.uab.cat/record/306395
https://dx.doi.org/urn:doi:10.1111/emre.12613
dc.language.none.fl_str_mv Inglés
eng
language_invalid_str_mv Inglés
language eng
dc.relation.none.fl_str_mv Agencia Estatal de Investigación https://doi.org/10.13039/501100011033 PID2020-115018RB-C32
dc.rights.none.fl_str_mv open access
http://purl.org/coar/access_right/c_abf2
https://creativecommons.org/licenses/by-nc-nd/4.0/
dc.rights.openaire.fl_str_mv info:eu-repo/semantics/openAccess
rights_invalid_str_mv open access
http://purl.org/coar/access_right/c_abf2
https://creativecommons.org/licenses/by-nc-nd/4.0/
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Wiley-Blackwell
publisher.none.fl_str_mv Wiley-Blackwell
dc.source.none.fl_str_mv reponame:Dipòsit Digital de Documents de la UAB
instname:Universitat Autònoma de Barcelona
instname_str Universitat Autònoma de Barcelona
reponame_str Dipòsit Digital de Documents de la UAB
collection Dipòsit Digital de Documents de la UAB
repository.name.fl_str_mv
repository.mail.fl_str_mv
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