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Original Articles

The adoption of outside boards by small private US firms

Pages 291-309 | Published online: 09 Nov 2010

Keep up to date with the latest research on this topic with citation updates for this article.

Read on this site (9)

Wafa Khlif, Lotfi Karoui, Coral Ingley & Wiem El Manaa. (2016) Family contingencies and board composition: evidence from Tunisia. Journal of African Business 17:1, pages 16-32.
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Amaia Maseda, Txomin Iturralde & Blanca Arosa. (2015) Impact of Outsiders on Firm Performance over Different Generations of Family‐Owned SMEs. Journal of Small Business Management 53:4, pages 1203-1218.
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Sanjay Goel, Wim Voordeckers, Anita van Gils & Jeroen van den Heuvel. (2013) CEO's empathy and salience of socioemotional wealth in family SMEs – The moderating role of external directors. Entrepreneurship & Regional Development 25:3-4, pages 111-134.
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Mattias Nordqvist & Leif Melin. (2010) Entrepreneurial families and family firms. Entrepreneurship & Regional Development 22:3-4, pages 211-239.
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Paul Westhead & Carole Howorth. (2007) ‘Types’ of private family firms: an exploratory conceptual and empirical analysis. Entrepreneurship & Regional Development 19:5, pages 405-431.
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Wim Voordeckers, Anita Van gils & Jeroen Van den heuvel. (2007) Board Composition in Small and Medium‐Sized Family Firms*. Journal of Small Business Management 45:1, pages 137-156.
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Paul Westhead, Carole Howorth & Marc Cowling. (2002) Ownership and management issues in first generation and multi-generation family firms. Entrepreneurship & Regional Development 14:3, pages 247-269.
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Jonas Gabrielsson & Morten Huse. (2002) The venture capitalist and the board of directors in SMEs: Roles and processes. Venture Capital 4:2, pages 125-146.
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Articles from other publishers (66)

Mirko H. Benischke, Ajay Bhaskarabhatla & Rajani Singh. (2023) The Effect of Incoming Board Interlocks With Public Firms on Private Firms’ Survival: Large-Scale Evidence From India. Journal of Management, pages 014920632311649.
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Chhavi Jatana. (2022) Board characteristics and CEO turnover–performance relationship: evidence from India. Corporate Governance: The International Journal of Business in Society 23:4, pages 766-799.
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Nischay Arora & Balwinder Singh. (2022) Board characteristics, ownership concentration and SME IPO underpricing. Pacific Accounting Review 35:1, pages 19-49.
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Francesco Napoli. (2023) The role of the board of directors in the value creation process and performance of family businesses. Business Performance Review 1:1, pages 8-21.
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Susana Sales da Silva Campos, Cláudio Antônio Pinheiro Machado Filho, Raquel Sales da Silva Costa & Lucas dos Santos-Costa. (2021) The contribution of the external director for Brazilian private family business: a generational approach. Journal of Family Business Management 12:4, pages 981-998.
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Ajab Khan. (2021) Ownership structure, board characteristics and dividend policy: evidence from Turkey. Corporate Governance: The International Journal of Business in Society 22:2, pages 340-363.
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Stefan Schmid & Felix Roedder. (2021) Gaijin invasion? A resource dependence perspective on foreign ownership and foreign directors. International Business Review 30:6, pages 101861.
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Lorraine Uhlaner, Alfredo de Massis, Ann Jorissen & Yan Du. (2020) Are outside directors on the small and medium-sized enterprise board always beneficial? Disclosure of firm-specific information in board-management relations as the missing mechanism. Human Relations 74:11, pages 1781-1819.
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Erhan Kilincarslan. (2021) The influence of board independence on dividend policy in controlling agency problems in family firms. International Journal of Accounting & Information Management 29:4, pages 552-582.
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Maarten Corten, Tensie Steijvers, Nadine Lybaert & Céline Coeckelbergs. (2021) The Influence of the CEO on Auditor Choice in Private Firms: An Interplay of Willingness and Ability. Sustainability 13:12, pages 6710.
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Rocío Arteaga & Alejandro Escribá-Esteve. (2020) Heterogeneity in family firms: contextualising the adoption of family governance mechanisms. Journal of Family Business Management 11:2, pages 200-222.
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Byungjun Yu, Saixing Zeng, Hongquan Chen, Xiaohua Meng & Chiming Tam. (2020) Doing more and doing better are two different entities: Different patterns of family control and environmental performance. Business Strategy and the Environment 30:1, pages 1-20.
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Daniel Yar Hamidi & Silke Machold. (2020) Governance, boards and value co-creation: Changing perspectives towards a service dominant logic. European Management Journal 38:6, pages 956-966.
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Hanna Maria Sievinen, Tuuli Ikäheimonen & Timo Pihkala. (2019) The advisory role of non-family board members: a case-based study of a family firm. Journal of Management and Governance 24:4, pages 871-903.
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Luis Arturo Torres-García, M. Concepción López-Fernández & Ana M. Serrano-Bedia. 2020. Entrepreneurship and Family Business Vitality. Entrepreneurship and Family Business Vitality 269 295 .
Maarten Corten, Tensie Steijvers & Nadine Lybaert. (2017) The influence of the CEO 's value perception towards auditing on audit demand in private firms . Accounting & Finance 59:4, pages 2307-2343.
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Manzaneque-Lizano, Alfaro-Cortés & de la Priego Cruz. (2019) Stakeholders and Long-Term Sustainability of SMEs. Who Really Matters in Crisis Contexts, and When. Sustainability 11:23, pages 6551.
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Antonio Duréndez, Antonia Madrid‐Guijarro & Ginés Hernández‐Cánovas. (2018) Do Family Firms’ Specific Governance Mechanisms Moderate the Cost of Debt?. Australian Accounting Review 29:1, pages 49-63.
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Eduardo Esposito & Francesco Mirone. (2019) A new approach to managing a successful generational shift: A case study of Illy Caffè. A new approach to managing a successful generational shift: A case study of Illy Caffè.
Francesco Napoli. (2019) Measuring the efficacy of board governance: Empirical evidence from Italian publicly listed companies. Corporate Ownership and Control 16:2, pages 25-37.
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Gang Wang, Kaitlyn DeGhetto, B. Parker Ellen & Bruce T. Lamont. (2018) Board Antecedents of CEO Duality and the Moderating Role of Country‐level Managerial Discretion: A Meta‐analytic Investigation. Journal of Management Studies 56:1, pages 172-202.
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Hairul Azlan Annuar. (2018) Malaysian evidence supporting theoretical integration of roles of non-executive directors. Asian Journal of Accounting Research 3:1, pages 2-14.
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Robin Deman, Ann Jorissen & Eddy Laveren. (2018) Family control and innovativeness in private firms: the mediating role of board task performance. Management Decision 56:2, pages 295-310.
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Dominik van Aaken, Katja Rost & David Seidl. (2017) The substitution of governance mechanisms in the evolution of family firms. Long Range Planning 50:6, pages 826-839.
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Guadalupe del Carmen Briano-Turrent & Jannine Poletti-Hughes. (2017) Corporate governance compliance of family and non-family listed firms in emerging markets: Evidence from Latin America. Journal of Family Business Strategy 8:4, pages 237-247.
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Seung-Hwan Jeong & David A. Harrison. (2017) Glass Breaking, Strategy Making, and Value Creating: Meta-Analytic Outcomes of Women as CEOs and TMT members. Academy of Management Journal 60:4, pages 1219-1252.
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Leticia Pérez-Calero Sánchez, Jaime Guerrero-Villegas & José Manuel Hurtado González. (2017) The influence of organizational factors on board roles. Management Decision 55:5, pages 842-871.
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Mariasole Bannò. (2016) Propensity to patent by family firms. Journal of Family Business Strategy 7:4, pages 238-248.
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Rihab Grassa. (2015) Corporate governance and credit rating in Islamic banks: Does Shariah governance matters?. Journal of Management & Governance 20:4, pages 875-906.
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Ekaterina S. Bjornali, Mirjam Knockaert & Truls Erikson. (2016) The Impact of Top Management Team Characteristics and Board Service Involvement on Team Effectiveness in High-Tech Start-Ups. Long Range Planning 49:4, pages 447-463.
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Basil Al-Najjar & Erhan Kilincarslan. (2016) The effect of ownership structure on dividend policy: evidence from Turkey. Corporate Governance: The International Journal of Business in Society 16:1, pages 135-161.
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Isabel Acero & Nuria Alcalde. (2014) Controlling shareholders and the composition of the board: special focus on family firms. Review of Managerial Science 10:1, pages 61-83.
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Mª Katiuska Cabrera-Suárez & Josefa D. Martín-Santana. (2015) Board composition and performance in Spanish non-listed family firms: The influence of type of directors and CEO duality. BRQ Business Research Quarterly 18:4, pages 213-229.
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Rodrigo Basco & Wim Voordeckers. (2015) The relationship between the board of directors and firm performance in private family firms: A test of the demographic versus behavioral approach. Journal of Management & Organization 21:4, pages 411-435.
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Martin R. W. Hiebl, Christine Duller, Birgit Feldbauer-Durstmüller & Patrick Ulrich. (2015) Family Influence and Management Accounting Usage — Findings from Germany and Austria. Schmalenbach Business Review 67:3, pages 368-404.
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Takiah Mohd Iskandar & Nor Hazwani Hassan. (2015) Board Quality of SMESs in Malaysia: The Governing Role of Family Ownership. Procedia Economics and Finance 31, pages 611-617.
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Lin Yang & Danni Wang. (2014) The impacts of top management team characteristics on entrepreneurial strategic orientation. Management Decision 52:2, pages 378-409.
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Blanca Arosa, Txomin Iturralde & Amaia Maseda. (2013) The board structure and firm performance in SMEs: Evidence from Spain. Investigaciones Europeas de Dirección y Economía de la Empresa 19:3, pages 127-135.
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Annelies Stockmans, Nadine Lybaert & Wim Voordeckers. (2013) The conditional nature of board characteristics in constraining earnings management in private family firms. Journal of Family Business Strategy 4:2, pages 84-92.
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Jaana Lappalainen & Mervi Niskanen. (2012) Financial performance of SMEs: impact of ownership structure and board composition. Management Research Review 35:11, pages 1088-1108.
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Jan‐Folke Siebels & Dodo zu Knyphausen‐Aufseß. (2011) A Review of Theory in Family Business Research: The Implications for Corporate Governance. International Journal of Management Reviews 14:3, pages 280-304.
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Blanca Arosa, Txomin Iturralde & Amaia Maseda. (2012) WITHDRAWN: The board structure and firm performance in SMEs: Evidence from Spain. Investigaciones Europeas de Dirección y Economía de la Empresa.
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Francesco Napoli. (2012) The Board's Strategic and Control Tasks; Family Firms and their Search for outside Directors to Support Growth: Empirical Evidence from Italian Publicly Listed Companies. Journal of General Management 37:4, pages 1-27.
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Sanjay Goel, Pietro Mazzola, Phillip H. Phan, Torsten M. Pieper & Ramona K. Zachary. (2012) Strategy, ownership, governance, and socio-psychological perspectives on family businesses from around the world. Journal of Family Business Strategy 3:2, pages 54-65.
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Mette Neville. (2011) The role of boards in small and medium sized firms. Corporate Governance: The international journal of business in society 11:5, pages 527-540.
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Elizabeth W. Cooper. (2011) Determinants of off‐balance sheet usage in private banks. Studies in Economics and Finance 28:4, pages 248-259.
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Ma Katiuska Cabrera Suárez, Ma de la Cruz Déniz Déniz & Josefa D. Martín Santana. (2011) CONSEJOS DE ADMINISTRACIÓN Y POTENCIAL PARA LA RESPONSABILIDAD SOCIAL DE LAS EMPRESAS FAMILIARES NO COTIZADAS ESPAÑOLAS1 1Esta investigación ha sido financiada por el Ministerio de Ciencia e Innovación (Proyecto ECO2008-00265/ECON).. Investigaciones Europeas de Dirección y Economía de la Empresa 17:3, pages 47-67.
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Silke Machold, Morten Huse, Alessandro Minichilli & Mattias Nordqvist. (2011) Board Leadership and Strategy Involvement in Small Firms: A Team Production Approach. Corporate Governance: An International Review 19:4, pages 368-383.
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Yannick Bammens, Wim Voordeckers & Anita Van Gils. (2011) Boards of Directors in Family Businesses: A Literature Review and Research Agenda. International Journal of Management Reviews 13:2, pages 134-152.
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Blanca Arosa, Txomin Iturralde & Amaia Maseda. (2010) Outsiders on the board of directors and firm performance: Evidence from Spanish non-listed family firms. Journal of Family Business Strategy 1:4, pages 236-245.
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Özlem Yildirim‐Öktem & Behlül Üsdiken. (2010) Contingencies versus External Pressure: Professionalization in Boards of Firms Affiliated to Family Business Groups in Late‐Industrializing Countries. British Journal of Management 21:1, pages 115-130.
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Wiem El Manaa, Wafa Khlif, Coral Ingley & Lotfi Karoui. (2010) Board composition in family-influenced firms: A dynamic perspective. Corporate Board role duties and composition 6:3, pages 21-30.
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Elizabeth Webb Cooper. (2009) Monitoring and governance of private banks. The Quarterly Review of Economics and Finance 49:2, pages 253-264.
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Yannick Bammens, Wim Voordeckers & Anita Van Gils. (2007) Boards of directors in family firms: a generational perspective. Small Business Economics 31:2, pages 163-180.
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Jonas Gabrielsson. (2016) Boards of Directors and Entrepreneurial Posture in Medium-size Companies. International Small Business Journal: Researching Entrepreneurship 25:5, pages 511-537.
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Jonas Gabrielsson. (2017) Correlates of Board Empowerment in Small Companies. Entrepreneurship Theory and Practice 31:5, pages 687-711.
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Tracy Long. (2017) The evolution of FTSE 250 boards of directors: key factors influencing board performance and effectiveness. Journal of General Management 32:3, pages 45-60.
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Alessandro Minichilli & Cathrine Hansen. (2007) The board advisory tasks in small firms and the event of crises. Journal of Management & Governance 11:1, pages 5-22.
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Jeroen van den Heuvel, Anita Van Gils & Wim Voordeckers. (2006) Board Roles in Small and Medium-Sized Family Businesses: performance and importance. Corporate Governance: An International Review 14:5, pages 467-485.
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Karine Cerrada & Frank Janssen. (2012) De l’applicabilité, des spécificités et de l’utilité d’un code de gouvernance d’entreprise pour les PMe et les TPE : le cas de la Belgique. Revue internationale P.M.E. 19:3-4, pages 163-193.
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Mark K. Fiegener. (2017) Determinants of Board Participation in the Strategic Decisions of Small Corporations. Entrepreneurship Theory and Practice 29:5, pages 627-650.
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Tracy Long, Victor Dulewicz & Keith Gay. (2005) The Role of the Non-executive Director: findings of an empirical investigation into the differences between listed and unlisted UK boards. Corporate Governance: An International Review 13:5, pages 667-679.
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K.C. Suáre & D.J. Santana‐Martín. (2004) Governance in Spanish family business. International Journal of Entrepreneurial Behavior & Research 10:1/2, pages 141-163.
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Matthew D. Lynall, Brian R. Golden & Amy J. Hillman. (2003) Board Composition from Adolescence to Maturity: A Multitheoretic View. Academy of Management Review 28:3, pages 416-431.
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Deniz UcbasaranAndy LockettMike Wright & Paul Westhead. (2017) Entrepreneurial Founder Teams: Factors Associated with Member Entry and Exit. Entrepreneurship Theory and Practice 28:2, pages 107-128.
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Paul Westhead, Marc Cowling & Carole Howorth. (2016) The Development of Family Companies: Management and Ownership Imperatives. Family Business Review 14:4, pages 369-385.
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