Ferreira, LeonorLitta, Riccardo2023-04-212023-04-212022-06-022022-05-20http://hdl.handle.net/10362/151980Academic research agrees on the outperforming profitability and the closer relationship with suppliers and customers, attributable to Family Business (FBs) compared to Non-FBs. This Work Project is aimed at understanding whether these characteristics still exist in Italian listed manufacturing FBs. Furthermore, this paper investigates how the differences in Cash Conversion Cycle components between FBs and Non-FBs impact profitability. Our findings suggest that FBs generate a higher Gross Sales Margin than Non-FBs by taking advantage of their relationship with suppliers. Specifically, FBs obtain lower input prices and longer payables periods than Non-FBs, while reducing variable costs through a longer inventory turnover.engFamily businessCash conversion cycleFinancial statement analysisProfitabilityDays inventory outstandingDays sales outstandingLiquidityWorkin capitalGross sales marginDays payables outstandingDebt-to-equityFtse Italia starStewardshipmaster thesis203222113