No. 1068 - Family firms and family succession in Italy
(only in Italian)
This paper examines the prevalence of family firms in Italy and how they evolved over the 2014-24 period. It compares family and non-family firms in terms of size, productivity, and other economic indicators. It also investigates changes in firm control, comparing successions within families with transitions involving the entry of new shareholders.
In Italy, around three out of four incorporated firms are family-owned. On average, family firms are smaller and less productive, but more profitable and less likely to exit the market. More than one in five family firms have at least one elderly shareholder and therefore face the issue of ownership succession. On average, succession within the family is not associated with significant changes in firm performance, whereas the entry of outside shareholders is accompanied by increases in both employment and productivity.
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