TY - JOUR
T1 - Board Composition in Small and Medium-Sized Family Firms
AU - van Gils, A.E.J.
AU - Voordeckers, W.
AU - van den Heuvel, J.A.G.M.
PY - 2007/1/1
Y1 - 2007/1/1
N2 - This study focuses on the determinants of board composition in belgian small and medium-sized family firms. It extends the empirical literature on board composition in private small and medium-sized family enterprises by integrating several dimensions of the “family component” in the research model. Furthermore, using a multinomial logit model, we examine in which circumstances family firms opt for (1) a family board, (2) an inside board, or (3) an outside board. Results suggest that family-related contingency variables are far more important than ceo-related or control variables, giving support to the argument that board composition in family firms is a reflection of the family characteristics and objectives. Moreover, the results suggest that a resource dependence and added value perspective explain more of the variation in board composition than agency considerations.
AB - This study focuses on the determinants of board composition in belgian small and medium-sized family firms. It extends the empirical literature on board composition in private small and medium-sized family enterprises by integrating several dimensions of the “family component” in the research model. Furthermore, using a multinomial logit model, we examine in which circumstances family firms opt for (1) a family board, (2) an inside board, or (3) an outside board. Results suggest that family-related contingency variables are far more important than ceo-related or control variables, giving support to the argument that board composition in family firms is a reflection of the family characteristics and objectives. Moreover, the results suggest that a resource dependence and added value perspective explain more of the variation in board composition than agency considerations.
U2 - 10.1111/j.1540-627X.2007.00204.x
DO - 10.1111/j.1540-627X.2007.00204.x
M3 - Article
SN - 0047-2778
VL - 45
SP - 137
EP - 156
JO - Journal of Small Business Management
JF - Journal of Small Business Management
IS - 1
ER -