Family firms represent a globally dominant form of organization, yet they confront a steep challenge of finding and managing competent leaders. Sometimes, these leaders cannot be found within the owning family. To date we know little about the governance contexts under which non-family leaders thrive or founder. Guided by concepts from agency theory and behavioural agency theory, we examine the conditions of ownership and leadership that promote superior performance among non-family CEOs of family firms. Our analysis of 893 Italian family firms demonstrates that these leaders outperform when they are monitored by multiple major family owners as opposed to a single owner; they also outperform when they are not required to share power with co-CEOs who are family members, and who may be motivated by parochial family socioemotional priorities.N © 2013 John Wiley & Sons Ltd and Society for the Advancement of Management Studies.
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Remote Sensing of Forest Environments. (2003). Remote Sensing of Forest Environments. Springer US. https://doi.org/10.1007/978-1-4615-0306-4
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