Risk and Sustainability in Family Businesses

This book explores ESG-related controversies in European family firms using bibliometric analysis to reveal seven thematic clusters that shape the current knowledge of risk in family enterprises. From ownership and board structure to innovation, internationalization, emotional dynamics, and crisis resistance, each cluster is examined to find its theoretical foundation, conceptual linkage, and managerial implications. To address persistent blind spots in the current literatures, the authors present a study based on various European listed companies examining how governance characteristics such as family ownership, board diversity, presence of family members on the board and board size affect the likelihood of ESG controversies in family firms versus non-family firms. The book concludes by outlining priority areas for future research, including governance and disclosure, succession and financial structure, innovation and digitization, ESG and reputational risk, and institutional context. This book is essential for scholars, students, researchers in family business, corporate governance, and strategic management as well as practitioners and policymakers concerned with ESG performance, sustainability, and long-term resilience in family firms.

Offers a multidimensional framework for understanding risk in family firms Provides original empirical evidence on ESG-related risk exposure Bridges academic insight with actionable governance implications

Autorentext

Anna Maria Moisello is Associate Professor of Accounting in the Department of Economics and Management at the University of Pavia (Italy) where she is teaching business administration and managerial accounting. Her research focus is on family firms, corporate governance, ESG disclosure, management control systems, cost accounting, and performance measurements. Her research has been published in various scholarly peer-reviewed international journals. She is also the co-author of Capital Structures, Earning Management, and Risk of Financial Distress (Springer 2019). Pietro Gottardo is Associate Professor of Corporate Finance in the Department of Economics and Management at the University of Pavia (Italy). His primary research interests include family business, corporate governance, capital structures, ESG and CSR disclosures, earnings management, equity market microstructure, and risk management in both financial and non-financial firms. His research has been published in various scholarly peer-reviewed international journals. He is also the co-author of Capital Structures, Earning Management, and Risk of Financial Distress (Springer 2019).

Inhalt

Chapter 1: Introduction.- Chapter 2: Bibliometric analysis of the literature on risk in family businesses.- Chapter 3: Theories used in studies on risk in family businesses.- Chapter 4: Governance, ownership structure, and risk in family businesses.- Chapter 5: Innovation, digitalization and risk in family businesses.- Chapter 6: Internationalization and global risk in family businesses.- Chapter 7: SEW, reputation, ESG risk.- Chapter 8: The risk of ESG Controversies in Family Businesses: Governance and Ownership Determinants.- Chapter 9: Other types of risks in family firms.- Chapter 10: Conclusion.