Conclusions

This book extends the literature on boards’ characteristics by focusing on family-listed companies. This book shows that family-controlled firms represent a characteristic and unique environment for studying the heterogeneity of the board; in fact, the first aim of the board in a family-controlled firm is to provide resources. Additionally, I introduced for the first time new variables such as the “heterogenous international experience” that, in today’s globalized world, should represent a source of competitive advantage for firms. I also showed that family-controlled firms use independent directors to import their heterogeneity knowledge; indeed, the heterogeneity ratio is positively affected by the increase of independent directors, while family members do not seem to affect the ratio.