Corporate Governance in Publicly Traded Family Firms (III Banca March-IE Report)

ISBN 978-84-606-9756-5, published 2015 with no month printed, analysing 1,127 listed companies across the USA, United Kingdom, France, Italy, Spain, Germany and Switzerland over 2008 to 2013, of which 265 are classified as family firms; the report prints both 23.6 per cent and 23.70 per cent for that share, so the count of 265 of 1,127 should be cited. Board members serve an average of 10 years in family firms against 7 in non-family firms, and while independents are 82 per cent of non-family boards and 56 per cent of family boards, the share who actually meet all the independence conditions is 51.44 per cent and 41.20 per cent respectively. Inside the same sample, a family member CEO serves 14.24 years against 5.11 years for a non-family CEO, and family firms whose CEO stays longer than average carry lower governance ratings, 49.50 against 52.87.