What is Family Business (or Family firm)

The chapter analyzes female involvement in medium-sized family businesses in Central Italy. The empirical analysis focuses on 233 firms over the period 2007-2014, to understand how female representation in corporate governance has evolved in recent years, and to pinpoint the factors tending to encourage/discourage female involvement in the board of directors. A descriptive analysis was conducted, enabling a fuller understanding of how female involvement in governance roles has evolved over the years. A regression analysis was performed to determine if and how specific governance characteristics – such as family ownership and generational stage – may have a bearing on the female presence on the board. The results confirm that female representation is favorably influenced by a strong family presence in the ownership of the business, while family firms under first-generation control exert a negative influence on female involvement.