A complicated relationship: Family involvement in the top management team and post-IPO survival. Issue 1 (March 2017)

• Record Type: Journal Article
• Authors: Cirillo, Alessandro; Mussolino, Donata; Romano, Mauro; Viganò, Riccardo
• Is Part Of: Journal of family business strategy. Volume 8:Issue 1(2017:Mar.)
• Page Start: 42
• Page End: 56
• Publication Date: 2017-03
• Subjects: Initial public offering -- Top management team -- Family management -- Family leadership -- Survival analysis -- Family firms; Family-owned business enterprises -- Management -- Periodicals; Strategic planning -- Periodicals; planning -- Periodicals; 658.04505
• DOI: 10.1016/j.jfbs.2017.01.004
• Languages: English
• ISSNs: 1877-8585

Abstract

Abstract: This exploratory study aims to analyse how and whether family involvement in the top management team of listed family firms affects post-IPO survival on capital markets. We tested our hypotheses on a data set of listed family firms over the period 2000–2011 using survival analysis. Our findings suggest that a higher number of family members in the top management team reduces the likelihood of post-IPO survival, but the relationship is affected by a family member as CEO. The number of generations is also negatively correlated with survival.