Despite the variety of boards of directors, research on family business has been dominated by prescriptions and by the lack of an explicit recognition of family firm types characterized by different governance requirements. We argue that a contingency approach to defining board structure, activity, and roles offers useful guidance in understanding board contributions to family business performance. We develop a theory to show how board characteristics are a reflection of a family firm’s power, experience, and culture makeup.
The board of directors in family firms: one size fits all?
CORBETTA, GUIDO GIUSEPPE;SALVATO, CARLO
2004
Abstract
Despite the variety of boards of directors, research on family business has been dominated by prescriptions and by the lack of an explicit recognition of family firm types characterized by different governance requirements. We argue that a contingency approach to defining board structure, activity, and roles offers useful guidance in understanding board contributions to family business performance. We develop a theory to show how board characteristics are a reflection of a family firm’s power, experience, and culture makeup.
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