Outside Boards and Family Businesses: Another Look
- 1 September 1991
- journal article
- Published by SAGE Publications in Family Business Review
- Vol. 4 (3) , 269-285
- https://doi.org/10.1111/j.1741-6248.1991.00269.x
Abstract
The debate over the usefulness of outside board members in family businesses goes on. Two of the three empirical studies on this issue tend to disagree on their value. Using a sample of 262 family business firms, drawn from the Business Week Newsletter for Family-Owned Businesses, this study surveyed CEOs to learn of their attitudes toward inside and outside board members. The findings strongly support the inclusion of outsiders and suggest that the more outside board members the better and the more inside family members the worse, but only where CEO desire, careful selection, and shared expectations are part of that outsider membership.Keywords
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