Boards of advisors in family smalland medium-sized enterprises

Judith Van Helvert-Beugels*, Anita Van Gils, Jolien Huybrechts

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingChapterAcademic

Abstract

This study examines the determinants of advisory boards in Dutch family small- and medium-sized enterprises. Boards of advisors consist of committed people that recurrently provide advice to the family firm’s decision-makers. Using resource-dependence theory, we hypothesize and find empirical support for the positive influence of highly dynamic environments on the presence of an advisory board. Contrary to our expectations, the presence of a board of directors positively influences the likelihood of having an advisory board, suggesting complementarity between these two governance mechanisms. We found no support for a generational effect on advisory board presence.
Original languageEnglish
Title of host publicationThe Palgrave Handbook of Heterogeneity among Family Firms
PublisherPalgrave Macmillan
Pages181-199
Number of pages19
ISBN (Electronic)9783319776767
ISBN (Print)9783319776750
DOIs
Publication statusPublished - 1 Jan 2018

Keywords

  • Boards of advisors
  • Family SMEs
  • Governance
  • Resource-dependence theory

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