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

In: The Palgrave Handbook of Heterogeneity among Family Firms

Author

Listed:
  • Judith Van Helvert-Beugels

    (Windesheim University of Applied Sciences)

  • Anita Van Gils

    (Windesheim University of Applied Sciences
    Maastricht University)

  • Jolien Huybrechts

    (Maastricht University)

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.

Suggested Citation

  • Judith Van Helvert-Beugels & Anita Van Gils & Jolien Huybrechts, 2019. "Boards of Advisors in Family Small- and Medium-Sized Enterprises," Springer Books, in: Esra Memili & Clay Dibrell (ed.), The Palgrave Handbook of Heterogeneity among Family Firms, chapter 8, pages 181-199, Springer.
  • Handle: RePEc:spr:sprchp:978-3-319-77676-7_8
    DOI: 10.1007/978-3-319-77676-7_8
    as

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