Board Roles in Small and Medium-Sized Family Businesses: Performance and Importance

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Provided by: Maastricht University
Topic: SMBs
Format: PDF
The board of directors is regarded as one of the most imperative governance mechanisms in small and medium-sized family firms. Empirical studies examining both the roles these boards fulfill in a family business context, as well as evaluating the CEO's perceived importance of these roles, are scarce. Founded by a range of conceptual and multi-theoretical board role definitions, this paper contributes to the literature by empirically determining board roles. Furthermore, the importance of these board roles and differences between the board's performance and perceived importance are assessed.
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