Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2020.1867603
Family governance systems: the complementary role of constitutions and councils
Tomás González-Cruz
José Antonio Clemente-Almendros
Alba Puig-Denia
Sažetak
The understanding of family businesses from the family side is
still in its infancy. This is especially true in relation to how family
members manage their relationships with one another and with
the firm. Family growth and evolution are usually accompanied
by a reduction in shared family meaning and purpose and greater
divergence in the form of factional interests and intentions that
harm the family and the firm. To counterbalance this negative
impact, scholars generally advocate a set of corporate governance
practices. However, few papers have analysed how family regulatory frameworks and family governance institutions affect family
firm performance. To the best of our knowledge, no paper has
analysed the complementary role of family rules and family governance institutions or their relationship with business performance. To fill this gap, we examine how family rules and family
governance institutions affect firm performance. Drawing upon
the concept of fit from organisation design, this paper shows the
complementary role of family rules and family institutions, as well
as the need for fit with family complexity. Analysis of a sample of
family businesses shows that when family governance fits with
family complexity, the relationship with firm performance is positive; any misfit leads to negative consequences.
Ključne riječi
Family governance system; family constitution; family council; family complexity; firm performance; fit; under-fit; over-fit
Hrčak ID:
301476
URI
Datum izdavanja:
31.12.2021.
Posjeta: 207 *