Do Family Councils Really Work? The Need for Empirical Study

Carmen Bianchi () and Keanon J. Alderson ()
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Carmen Bianchi: San Diego State University
Keanon J. Alderson: California Baptist University

Chapter Chapter 12 in Understanding Family Businesses, 2012, pp 185-202 from Springer

Abstract: Abstract Governance continues to be among the most important issues facing family ­businesses. The widely accepted three-circle model of family, management, and ownership (Tagiuri and Davis 1996) employs a board of directors to address governance at the intersection of ownership and management; however, this significantly ignores the family’s interests. The family and the business are often so enmeshed that emotions are simply inevitable (Alderfer 1988). To correct for this oversight, family meetings, family councils, and family constitutions are often advised by family business consultants. Family councils are formed to benefit family members in the areas of planning, policy making, and strengthening business–family communication.

Keywords: Family Firm; Governance Structure; Family Business; Family Communication; Council Meeting (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:spr:inschp:978-1-4614-0911-3_12

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DOI: 10.1007/978-1-4614-0911-3_12

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