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Abstract
Building on behavioral theory, we argue that the effect of board demography on the performance of small and medium‐sized family firms differs significantly at the individual firm level and that the degree by which board task performance meets board task needs explains this effect. Using a Bayesian estimation method, we obtain firm specific estimates of the effect of board demography on firm performance. Analysis of these estimates indicates that the size of the gap between board task needs and board task performance explains the effects of the board demographic characteristics—board size and percentage of family directors—on firm performance.
1. Jolien Huybrechts is a postdoctoral researcher at the School of Business and Economics, Department of Organization and Strategy, Maastricht University.
2. Wim Voordeckers is a professor at the Research Center for Entrepreneurship and Family Firms, Hasselt University.
3. Bert D'Espallier is an assistant professor at the Research Group Finance, Accountancy and Tax, KULeuven.
4. Nadine Lybaert is a professor at the Research Center for Entrepreneurship and Family Firms, Hasselt University.
5. Anita Van Gils is the Hamrin visiting professor in family business at Jönköping International Business School, Center for Family Enterprise – CeFEO, and associate professor in entrepreneurship and family business at the School of Business and Economics, Department of Organization and Strategy, Maastricht University.
1. Jolien Huybrechts is a postdoctoral researcher at the School of Business and Economics, Department of Organization and Strategy, Maastricht University.
2. Wim Voordeckers is a professor at the Research Center for Entrepreneurship and Family Firms, Hasselt University.
3. Bert D'Espallier is an assistant professor at the Research Group Finance, Accountancy and Tax, KULeuven.
4. Nadine Lybaert is a professor at the Research Center for Entrepreneurship and Family Firms, Hasselt University.
5. Anita Van Gils is the Hamrin visiting professor in family business at Jönköping International Business School, Center for Family Enterprise – CeFEO, and associate professor in entrepreneurship and family business at the School of Business and Economics, Department of Organization and Strategy, Maastricht University.
Notes
1. Jolien Huybrechts is a postdoctoral researcher at the School of Business and Economics, Department of Organization and Strategy, Maastricht University.
2. Wim Voordeckers is a professor at the Research Center for Entrepreneurship and Family Firms, Hasselt University.
3. Bert D'Espallier is an assistant professor at the Research Group Finance, Accountancy and Tax, KULeuven.
4. Nadine Lybaert is a professor at the Research Center for Entrepreneurship and Family Firms, Hasselt University.
5. Anita Van Gils is the Hamrin visiting professor in family business at Jönköping International Business School, Center for Family Enterprise – CeFEO, and associate professor in entrepreneurship and family business at the School of Business and Economics, Department of Organization and Strategy, Maastricht University.
Additional information
Notes on contributors
Jolien Huybrechts
Jolien Huybrechts is a postdoctoral researcher at the School of Business and Economics, Department of Organization and Strategy, Maastricht University.
Wim Voordeckers
Wim Voordeckers is a professor at the Research Center for Entrepreneurship and Family Firms, Hasselt University.
Bert D'espallier
Bert D’Espallier is an assistant professor at the Research Group Finance, Accountancy and Tax, KULeuven.
Nadine Lybaert
Nadine Lybaert is a professor at the Research Center for Entrepreneurship and Family Firms, Hasselt University.
Anita Van gils
Anita Van Gils is the Hamrin visiting professor in family business at Jöonköoping International Business School, Center for Family Enterprise – CeFEO, and associate professor in entrepreneurship and family business at the School of Business and Economics, Department of Organization and Strategy, Maastricht University.