Antonio D'Amato

Exploring nonlinear effects of family power on the performance of Italian wine businesses

Purpose – This work seeks to investigate the performance of wine businesses operating in the Campania region in the South of Italy and aims to verify the family power effect on company performance.Design/methodology/approach – The study was conducted on a sample of 114 firms that operate in the quality wines industry. Using a panel data regression model with time fixed effects, the authors analyzed the firm performance during the interval 2007‐2010 to detect the effect of family power on the firm performance. Family power was measured through the degree of family involvement in ownership and on the board. Performance was measured in terms of revenue and profitability.Findings – The research highlights a U‐shaped relationship between family power and revenue and an inverted U‐shaped relationship between family power and profitability.Originality/value – The findings show an empirical framework which could stimulate the academic debate on family effect in order to draw implications for marketing management ...

Do women perform better in family firms?: Exploring the moderating role of family firm status

Purpose Empirical evidence on the relation between female involvement at the head of a company and firm performance remains inconclusive. This study aims to disentangle the existing evidence by exploring the moderating role of family firm status. Design/methodology/approach The study analyzes the moderating role of family firm status on the relation between gender diversity and firm performance among a sample of 88 Italian wine firms from Campania region during the 2007-2014 period. This work uses random effects panel data regression and tests the robustness of the results using alternative econometric techniques. Performance is measured in terms of profitability. Findings The findings reveal that women in top positions do not affect firm performance. However, it is found that this relation is significantly moderated by family firm status. Specifically, compared to high family-controlled firms, female involvement negatively impacts firm performance in low family-controlled firms. Research limitations/implications From a theoretical standpoint, the results enable a more nuanced interpretation of the relationship between female involvement and firm performance. From a managerial perspective, the results highlight conditions that may promote the role of women in business. Originality/value This paper provides insights into the relation between gender diversity and firm performance by exploring the moderating role of family firm status – a novel approach in the management and wine business literature.

Women on Board of Directors and Firm Perfomance: The Moderating Role of Female Ownership. Empirical Evidence from the Italian Wine Industry

Many studies have investigated the impact of female directors on firm performance, but the results are still largely inconclusive. This paper aims to analyse the direct relationship between these variables and to explore the moderating role of female owners on the relationship between females on board of directors and firm performance. The main hypotheses are tested, through a panel regression model with cross section random effects, on a sample of 380 firms over the period 2008-2012. Our main findings show that the presence of women on company board does not affect firm performance. However, this relationship becomes significant when we consider the moderating role of the female presence in ownership. Implications for theory and practice are also discussed.

Assetti proprietari e problematiche di governance nelle piccole imprese familiari del comparto vitivinicolo. Il case study dell’azienda agricola "di marzo"

Abstract. Nel 2008 le “Cantine di Marzo” terminano un lungo processo di concentrazione dell’assetto proprietario che ha portato a una drastica riduzione del numero dei soci, concentrando nelle mani degli attuali proprietari pressappoco l’86%% delle quote. Questo processo di revisione dell’assetto proprietario era stato considerato una priorita per la sopravvivenza dell’impresa, in considerazione dell’immobilismo in cui era caduta l’azienda, a seguito dell’incremento, registrato nel tempo, della platea dei soci, quale risultato di ripetute successioni ereditarie. Dall’analisi di questa situazione emergono due interrogativi cruciali: e possibile che la concentrazione proprietaria costituisca una strategia utile per ridare slancio all’azione di governo? In caso affermativo, quali possono essere le motivazioni che abbiano contribuito al miglioramento della complementare azione di gestione? L’esperienza delle “Cantine di Marzo” suggerisce che la concentrazione puo essere una valida strategia di governance , perche ha consentito, nella fattispecie, di conseguire una maggiore dinamicita strategica e una migliore flessibilita operativa. Questo studio, pertanto, partendo dall’analisi della letteratura riguardante i riflessi dell’assetto proprietario sulla governance dell’impresa in generale e dell’impresa familiare in particolare, analizza i benefici della concentrazione proprietaria. Inoltre, presenta il caso delle “Cantine di Marzo”, illustra i risultati dell’indagine e discute le conseguenti implicazioni scientifiche e manageriali.