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Boards of Directors in Small Corporations: An Untapped Resource

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  • Richard Castaldi
  • Max S. Wortman Jr.

Abstract

Small business corporations face many problems. Some are inherent because of their size alone while others are due to government regulations and practices. To cope successfully with such problems, it is imperative that small corporations attempt to maximize their available resources. The board of directors is a resource largely ignored as a positive input in managing small firms. This article proposes a departure from traditional use of boards and recommends one conceptual scheme. A typical board structure is presented with applications showing how it can alleviate many of the problems facing small corporations.

Suggested Citation

  • Richard Castaldi & Max S. Wortman Jr., 1984. "Boards of Directors in Small Corporations: An Untapped Resource," Entrepreneurship Theory and Practice, , vol. 9(2), pages 1-10, October.
    • Handle: RePEc:sae:entthe:v:9:y:1984:i:2:p:1-10
    DOI: 10.1177/104225878400900201
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    Cited by:

    1. Bauweraerts, Jonathan & Arzubiaga, Unai & Diaz-Moriana, Vanessa, 2022. "Unveiling the global focus-performance relationship in family firms: The role of the board of directors," International Business Review, Elsevier, vol. 31(4).
    2. Roger H. Ford, 1988. "Outside Directors and the Privately-Owned Firm: Are They Necessary?," Entrepreneurship Theory and Practice, , vol. 13(1), pages 49-57, October.
    3. Manzaneque, Montserrat & Merino, Elena & Priego, Alba María, 2016. "The role of institutional shareholders as owners and directors and the financial distress likelihood. Evidence from a concentrated ownership context," European Management Journal, Elsevier, vol. 34(4), pages 439-451.
    4. Imen Khanchel El Mehdi, 2014. "Les conseils d’administration dans les PME tunisiennes," Working Papers 2014-77, Department of Research, Ipag Business School.
    5. Odd Jarl Borch & Morten Huse, 1993. "Informal Strategic Networks and the Board of Directors," Entrepreneurship Theory and Practice, , vol. 18(1), pages 23-36, October.
    6. Jonas Gabrielsson, 2007. "Correlates of Board Empowerment in Small Companies," Entrepreneurship Theory and Practice, , vol. 31(5), pages 687-711, September.
    7. Emma García-Meca & Domingo J. Santana-Martín, 2023. "Board gender diversity and performance in family firms: exploring the faultline of family ties," Review of Managerial Science, Springer, vol. 17(5), pages 1559-1594, July.
    8. Emma García‐Meca & María Consuelo Pucheta‐Martínez, 2018. "How Institutional Investors on Boards Impact on Stakeholder Engagement and Corporate Social Responsibility Reporting," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 25(3), pages 237-249, May.
    9. Emma García-Meca & Felix López-Iturriaga & Fernando Tejerina-Gaite, 2017. "Institutional Investors on Boards: Does Their Behavior Influence Corporate Finance?," Journal of Business Ethics, Springer, vol. 146(2), pages 365-382, December.
    10. Alessandro Minichilli & Cathrine Hansen, 2007. "The board advisory tasks in small firms and the event of crises," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 11(1), pages 5-22, March.
    11. Catherine M. Daily & Dan R. Dalton, 1993. "Board of Directors Leadership and Structure: Control and Performance Implications," Entrepreneurship Theory and Practice, , vol. 17(3), pages 65-81, April.
    12. repec:ipg:wpaper:2014-077 is not listed on IDEAS
    13. Mark K. Fiegener, 2005. "Determinants of Board Participation in the Strategic Decisions of Small Corporations," Entrepreneurship Theory and Practice, , vol. 29(5), pages 627-650, September.
    14. Mark K. Fiegener & Bonnie M. Brown & Dirk R. Dreux IV & William J. Dennis Jr., 2000. "CEO Stakes and Board Composition in Small Private Firms," Entrepreneurship Theory and Practice, , vol. 24(4), pages 5-24, July.
    15. Chenchuramaiah T. Bathala & Oswald D. Bowlin & William P. Dukes, 2003. "Corporate Governance, Illiquidity, and Valuation Issues in Privately-Owned Corporations," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 8(1), pages 1-30, Spring.

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