The quality of governance crucially affects corporate outcomes, and may be particularly important for state-owned enterprises (SOEs) not disciplined by market competition forces. We examine the impact of board composition on the performance of companies controlled by public entities in Italy....

We explore the role of ownership, governance and management characteristics as potential drivers of the performance gaps between firms located in the Centre and North and in the South of Italy. First, we document that southern firms are characterized by more frequent family ownership and a...