Boards of Advisors in Family Small- and Medium-Sized Enterprises

Judith Van Helvert-Beugels (), Anita Van Gils and Jolien Huybrechts
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Judith Van Helvert-Beugels: Windesheim University of Applied Sciences
Anita Van Gils: Windesheim University of Applied Sciences
Jolien Huybrechts: Maastricht University

Chapter 8 in The Palgrave Handbook of Heterogeneity among Family Firms, 2019, pp 181-199 from Springer

Abstract: 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.

Keywords: Family SMEs; Boards of advisors; Resource-dependence theory; 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_8

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DOI: 10.1007/978-3-319-77676-7_8

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