How to become a multigenerational and successful family business: a governance perspective

The purpose of this Doctoral thesis is to provide a meaningful theory to investigate family firm’s competitive advantage. Even if an explorative case study is the object of chapter three, we can consider this work a theory piece. What we want to argue here is that family controlled companies, generally accused of incurring in the so called agency problem II, and in other governance challenging issues, may reduce their exposure to this risk trough the adoption of some formal governance mechanisms, which can drive ambiguity out of the family business system and, therefore, improve their stewardship attitude and drive them to higher performances and to become multigenerational.