Corporate Governance Codes: How to Deal with the Bright and Dark Sides of Family Influence

Stefan Prigge () and Felix K. Thiele ()
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Stefan Prigge: Institute for Mittelstand and Family Firms (IMF)
Felix K. Thiele: Institute for Mittelstand and Family Firms (IMF)

Chapter 12 in The Palgrave Handbook of Heterogeneity among Family Firms, 2019, pp 297-331 from Springer

Abstract: Abstract This study examined how corporate governance codes specific to private family firms encourage the bright side and restrict the dark side of family influence. Moreover, it investigated whether these codes foster agency or stewardship tendencies of the family’s involvement in the business. The results of this qualitative research study revealed that the eight analyzed codes are not consistent in their recommendations and focus on different aspects of family influence. Nevertheless, some common recommendations could be identified—for instance, the relevance of family governance mechanisms to avoid conflicts.

Keywords: Family businesses; Corporate governance codes; Family influence; Family governance (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-319-77676-7_12

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DOI: 10.1007/978-3-319-77676-7_12

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