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Italy's family firms endure crisis better, but governance remains a challenge

Rome

ITALIAN family businesses proved to be more resilient to the economic crisis than other types of companies, especially when they undertook internationalisation processes, a recent study showed.

Family firms are considered a pillar of Italian economy and, after being among those most affected by the crisis in 2008 and 2009, they succeeded in reversing the trend and developing a new path of growth, according to the research.

"The crisis surely prompted many family companies to modernise in terms of more innovative strategies and internationalisation processes and, though sometimes too limited, in terms of family and corporate governance," head of UniCredit Family Business Marco Gabbiani told...

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