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The cognitive dimension of corporate governance in fast growing entrepreneurial firms

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  • Peter Wirtz

    (MAGELLAN - Laboratoire de Recherche Magellan - UJML - Université Jean Moulin - Lyon 3 - Université de Lyon - Institut d'Administration des Entreprises (IAE) - Lyon)

Abstract

This article explores the specific morphology and functioning of the governance system of fast growing entrepreneurial firms. Corporate governance is conceptualized as a complex system composed of different mechanisms and various actors, reaching beyond the corporate board and its members. To explain the link between the governance system at large and growth, I build on a general model of corporate governance first proposed by Charreaux (2008), where governance potentially influences managerial behavior through two levers: financial discipline and cognition. I argue that, in the specific case of entrepreneurial firms, corporate governance may play a central role in sustaining high levels of growth through the extensive use of the cognitive lever. Beyond its theoretical implications, the model is also instrumental in providing a consistent framework for an exploration of existing empirical research. I review research specifically devoted to the governance of entrepreneurial firms which experience strong growth and find support for the rationale underlying the proposed model.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Peter Wirtz, 2011. "The cognitive dimension of corporate governance in fast growing entrepreneurial firms," Post-Print halshs-00642749, HAL.
    • Handle: RePEc:hal:journl:halshs-00642749
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    Cited by:

    1. Hezun Li & Siri Terjesen & Timurs Umans, 2020. "Corporate governance in entrepreneurial firms: a systematic review and research agenda," Small Business Economics, Springer, vol. 54(1), pages 43-74, January.
    2. Christophe Bonnet & Laurence Cohen & Peter Wirtz, 2015. "Angel Cognition and Active Involvement in BAN Governance and Management," Working paper serie RMT - Grenoble Ecole de Management hal-01182804, HAL.
    3. Christophe Maurel & François Pantin, 2020. "Les outils et pratiques de contrôle de gestion dans les Scop pour piloter la performance globale," Post-Print hal-02525165, HAL.
    4. Kooli, Chokri, 2019. "Governing and managing higher education institutions: The quality audit contributions," Evaluation and Program Planning, Elsevier, vol. 77(C).
    5. Peter Wirtz, 2019. "Are Corporate Governance Theories Relevant to the History and Long-Term Survival of Catholic Orders?," Post-Print hal-02277837, HAL.
    6. Manel Gharbi & Anis Jarboui, 2023. "Ownership Structure, Board Characteristics, and Firm Diversification: Evidence from an Emerging Country," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(3), pages 3-20.
    7. Muluneh HIDETO DATO & Marek HUDON & Roy MERSLAND, 2020. "Board Governance: Does Ownership Matter?," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 91(1), pages 5-28, March.
    8. Christophe Bonnet & Peter Wirtz & Martine Séville, 2013. "Nascent Governance: The Impact Of Entrepreneurial Finance On Board Formation And Roles," Grenoble Ecole de Management (Post-Print) halshs-00850021, HAL.
    9. Peter Wirtz, 2019. "Are Corporate Governance Theories Relevant to Account for the History and Long- Term Survival of Old Catholic Orders?," Working Papers hal-02083983, HAL.
    10. Saïsset, L.A. & Couderc, J.P., 2013. "Les trois dimensions de la gouvernance coopérative : à la recherche d'un équilibre instable. Le cas des caves coopératives en Languedoc-Roussillon [France]," Working Papers MoISA 201302, UMR MoISA : Montpellier Interdisciplinary center on Sustainable Agri-food systems (social and nutritional sciences): CIHEAM-IAMM, CIRAD, INRAE, L'Institut Agro, Montpellier SupAgro, IRD - Montpellier, France.
    11. Sara Sassetti & Giacomo Marzi & Vincenzo Cavaliere & Cristiano Ciappei, 2018. "Entrepreneurial cognition and socially situated approach: a systematic and bibliometric analysis," Scientometrics, Springer;Akadémiai Kiadó, vol. 116(3), pages 1675-1718, September.
    12. Hamza Fadhila & Azouzi Mohamed Ali & Jarboui Anis, 2014. "CEO's commitment bias, ownership concentration, and innovation decision: Behavioral management of CEO's discretion," Cogent Economics & Finance, Taylor & Francis Journals, vol. 2(1), pages 1-24, December.
    13. Hadjielias, Elias & (Lola) Dada, Olufunmilola & Discua Cruz, Allan & Zekas, Stavros & Christofi, Michael & Sakka, Georgia, 2021. "How do digital innovation teams function? Understanding the team cognition-process nexus within the context of digital transformation," Journal of Business Research, Elsevier, vol. 122(C), pages 373-386.
    14. Dziri Houda & Jarboui Anis, 2017. "The venture capitalist’s cognitive approach: Validation through the Tunisian context," Cogent Economics & Finance, Taylor & Francis Journals, vol. 5(1), pages 1323371-132, January.
    15. Fernández-Pérez, Virginia & Alonso-Galicia, Patricia Esther & Rodríquez-Ariza, Lázaro & Fuentes-Fuentes, María del Mar, 2015. "Professional and personal social networks: A bridge to entrepreneurship for academics?," European Management Journal, Elsevier, vol. 33(1), pages 37-47.
    16. Tsolakis, Naoum & Zissis, Dimitris & Tjahjono, Benny, 2023. "Scrutinising the interplay between governance and resilience in supply chain management: A systems thinking framework," European Management Journal, Elsevier, vol. 41(1), pages 164-180.
    17. Laurence Cohen & Peter Wirtz, 2018. "Caractéristiques des entrepreneurs, finance entrepreneuriale et trajectoires de croissance," Working Papers hal-01723858, HAL.
    18. Lepage, Fanny & Cheriet, Foued, 2021. "Gouvernance et croissance des grandes exploitations agricoles : la place de l’agri-entrepreneur," Économie rurale, French Society of Rural Economics (SFER Société Française d'Economie Rurale), vol. 375(January-M).
    19. Louis-Antoine Saïsset & Géraldine Rivière-Giordano & Paul Amadieu, 2016. "The key role of stakeholders on wine cooperatives governance and performance," Post-Print hal-02742867, HAL.
    20. Philippe Desbrières, 2012. "Les apports de la stratégie à la finance entrepreneuriale - The contributions of strategy to entrepreneurial finance," Working Papers CREGO 1120801, Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations.
    21. Joëlle Bédat & Peter Wirtz, 2023. "The scale-up process and the nascent board’s modus operandi : The role of attention and self-efficacy [Processus de scale-up et fonctionnement du CA naissant : Le rôle de l’attention et de l’autoef," Post-Print halshs-04054887, HAL.
    22. Sarah Tiba & Frank J. van Rijnsoever & Marko P. Hekkert, 2019. "Firms with benefits: A systematic review of responsible entrepreneurship and corporate social responsibility literature," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 26(2), pages 265-284, March.

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