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Please use this identifier to cite or link to this item: http://hdl.handle.net/1942/19915

Title: The relationship between the board of directors and firm performance in private family firms: A test of the demographic versus behavioral approach
Authors: Basco, Rodrigo
Voordeckers, Wim
Issue Date: 2015
Citation: JOURNAL OF MANAGEMENT & ORGANIZATION, 21 (4), p. 411-435
Abstract: Research on corporate governance has attempted to investigate the added value of boards of directors through the lenses of both demographic and behavioral approaches. However, investigations into these two approaches, and the subsequent implications for firm performance, have thus far been mainly decoupled from one another. Therefore, the aim of this paper is to put both approaches to the test in the family business context. Using a sample of 567 Spanish family firms, we find that although both approaches can explain the performance of family firms, the behavioral approach explains a much higher proportion of the variation in the firm's performance. Furthermore, our findings support our hypotheses that the relationship between the proportion of outside directors and firm performance follows an inverted U-shape in private family firms, and that both business-oriented and family-oriented board role performance are positively related with firm performance.
Notes: [Basco, Rodrigo] Univ Witten Herdecke, Witten Inst Family Business, Witten, Germany. Hasselt Univ, KIZOK Res Ctr, Diepenbeek, Belgium.
URI: http://hdl.handle.net/1942/19915
DOI: 10.1017/jmo.2015.23
ISI #: 000356934700003
ISSN: 1833-3672
Category: A1
Type: Journal Contribution
Validation: ecoom, 2016
Appears in Collections: Research publications

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