Author
Listed:
- Tomás González-Cruz
- José Antonio Clemente-Almendros
- Alba Puig-Denia
Abstract
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.
Suggested Citation
Tomás González-Cruz & José Antonio Clemente-Almendros & Alba Puig-Denia, 2021.
"Family governance systems: the complementary role of constitutions and councils,"
Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 34(1), pages 3139-3165, January.
Handle:
RePEc:taf:reroxx:v:34:y:2021:i:1:p:3139-3165
DOI: 10.1080/1331677X.2020.1867603
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:reroxx:v:34:y:2021:i:1:p:3139-3165. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
We have no bibliographic references for this item. You can help adding them by using this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/rero .
Please note that corrections may take a couple of weeks to filter through
the various RePEc services.