Dissertations / Theses: 'Family businesses governance'

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Süss-Reyes, Julia. "Understanding the transgenerational orientation of family businesses: the role of family governance and business family identity." Springer Verlag, 2017. http://dx.doi.org/10.1007/s11573-016-0835-3.

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The development of a transgenerational orientation is one of the most significant challenges that family businesses face and only a small number actually survive across generations. While prior research has focused on the business unit to provide us with a solid understanding of how corporate governance affects business performance and continuity, the role of the business family in the development of a transgenerational orientation has received less attention. To address this gap, this article applies a new systems and social identity theory framework to examine how family governance and business family identity can contribute to strengthening the transgenerational orientation of the business. A transgenerational orientation is defined as a decision premise to maintain the family's control over the business across generations. Using a large data set, findings show that the presence of family governance measures and the business family's identity are positively related to a transgenerational orientation of the business, with business family identity acting as a mediator. Thus, the development of family governance measures can foster communication within the business family and enhance the family members' emotional investment in the business which strengthens the transgenerational orientation in the business. (author's abstract)

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Offerman, John Leonard. "The role of governance in the Offerman family businesses." Thesis, Nelson Mandela Metropolitan University, 2010. http://hdl.handle.net/10948/1487.

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The primary research objective considered by this study was to determine the nature of the governance system employed by the Offerman Family businesses in ensuring that all company assets, resources and actions are directed at, and controlled in the achievement of established company objectives and are accounted for to all legitimate stakeholders. Four related secondary objectives were also examined. The Offerman Family businesses consist of three separate companies that all make clay bricks in some form. Over recent years, the Offerman Family businesses have grown and taken on various minority shareholders in these three separate companies. For this reason, the governance requirements of the businesses have changed significantly from when the businesses were smaller and owned by a single family. The literature review on which the study is founded commences with an overview of family business topics appropriate to the research. Following this introduction, the history of the Offerman Family businesses is presented through until the present day (August 2010). Topics of governance are then considered in depth with a particular focus maintained throughout on that most applicable to the Offerman Family businesses. The research followed a case study approach within the phenomenological research paradigm. The details of the methodology employed are provided including an explanation of the questionnaire used as the research instrument. The questionnaire was submitted to ten people capable of influencing governance in the Offerman Family businesses and a useful response rate of 90 percent was achieved. The findings of the research detail the nature of the governance system employed by the Offerman Family businesses. It appears that there are shortcomings with family governance while governance of the businesses seems to be facilitated by the presence of the requisite governance building blocks such as a board of directors. Nevertheless, these governance systems are currently not functioning optimally leaving considerable room for improvement. The study closes with a review of the secondary research objectives and the resolution thereof. A list of recommendations is provided, which if implemented, could assist the Offerman Family businesses towards improving governance. Recommendations towards additional research are offered followed by an explanation of the limitations of the study.

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Samara, Georges. "Managing Family Businesses Heterogeneity: Global Strategies for Family Business Economic and Social Performance." Doctoral thesis, Universitat Ramon Llull, 2017. http://hdl.handle.net/10803/461046.

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Com gestionar i dirigir una empresa familiar per tal d’aconseguir uns resultats econòmics i socials millors? Si bé les empreses familiars són un grup molt heterogeni d’empreses, s’ha fet molt poca atenció a la forma de govern i a les contingències institucionals a l’hora d’analitzar el seu acompliment econòmic i social. Com a resultat d’això s’han produït alguns debats teòrics i s’han detectat algunes conclusions contradictòries en la literatura. Aquesta tesi explica l’heterogeneïtat de les empreses familiars per tal d’il·lustrar millor les opcions de gestió i de govern que en poden catalitzar l’acompliment econòmic i social. S’analitzen tres fonts poc estudiades de l’heterogeneïtat de les empreses familiars: les diverses actituds, habilitats i serveis del seu capital humà, els diferents nivells d’implicació de la família en el negoci i l’entorn geogràfic institucional en què s’incardinen les empreses familiars. Aquesta tesi aporta arguments teòrics i analitza empíricament les diferents opcions de gestió i de govern que poden catalitzar els resultats econòmics i socials de les empreses familiars. En definitiva, aquest treball fa diverses contribucions teòriques que poden ajudar a reconciliar les visions contradictòries detectades a la literatura i proporciona algunes recomanacions molt més precises als professionals.
¿Cómo gestionar y dirigir una empresa familiar para lograr mejores resultados económicos y sociales? Pese a que las empresas familiares son un grupo muy heterogéneo de empresas, se ha prestado muy poca atención a la gobernanza y a las contingencias institucionales a la hora de abordar su desempeño económico y social. El resultado de ello han sido algunos debates teóricos y algunas conclusiones contradictorias en la literatura. La presente tesis explica la heterogeneidad de las empresas familiares para arrojar más luz sobre las opciones de gestión y de gobernanza que pueden catalizar el desempeño económico y social de dichas empresas. Se analizan tres fuentes poco estudiadas de la heterogeneidad de las empresas familiares: las diversas actitudes, habilidades y servicios de su capital humano, los distintos niveles de implicación de la familia en el negocio y el entorno geográfico institucional en que se incardinan las empresas familiares. Esta tesis proporciona argumentos teóricos y analiza empíricamente las distintas opciones de gestión y de gobernanza que pueden catalizar los resultados económicos y sociales de las empresas familiares. De este modo, este trabajo realiza varias contribuciones teóricas que pueden ayudar a reconciliar las visiones contradictorias detectadas en la literatura y proporciona algunas recomendaciones mucho más precisas a los profesionales.
How can family businesses be managed and directed to achieve better economic and social outcomes? Despite that family businesses are a group of heterogenous companies, little attention has been given to governance and institutional contingencies when discussing the family business economic and social performance. This resulted in several theoretical debates and conflicting evidence found in the literature. This thesis accounts for family business heterogeneity to shed further light into the managerial and governance choices that can catalyze family businesses economic and social performance. Three understudied sources of family businesses heterogeneity are explored: The various attitudes, skills, and services of the family business human capital, the different levels of family involvement in the business, and the institutional geographical setting in which family businesses are embedded. This thesis theoretically argues for and empirically explores managerial and governance choices that can catalyze family businesses economic and social outcomes. By doing so, this work offers several theoretical contributions that can help reconcile conflicting views found in the literature and provides finer-grained recommendations for practitioners.

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Adendorff, Christian Michael, and S. Radloff. "The development of a cultural family business model of good governance for Greek family businesses in South Africa." Thesis, Rhodes University, 2005. http://hdl.handle.net/10962/d1002779.

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Never in the history of the South African nation has the entrepreneurial spirit been more alive. Since the opening of international doors, after the 1994 elections, South Africa has experienced the explosive growth of transnational entrepreneurship. An enduring aspect of the explosion of such economic activity is the need for "good governance" and the need for governance education in South Africa and the rest of the continent has never been greater. The size of the family business component of the South Aftican economy suggests that it is the predominant way of doing business in South Africa. Of importance to this study is the estimate that approximately 95 % of all Greek businesses in South Africa can be classified as family businesses. The sustainability of Greek family businesses requires that they maintain good governance practices that are economically and environmentally acceptable to all stakeholders. It also requires that the next generation of Greek entrepreneurs balance good governance for the businesses as well as for the family. The primary objective of this study was to identify and explore the internal factors that influence and determine good governance to ensure the survival, growth and sustainability of Greek family businesses in South Africa. The secondary research objectives pertained to the underlying dimensions of good governance and required an exploration of the different governance concerns in relation to specific South African Greek behaviour and characteristics. A theoretical model of good governance factors was proposed and tested using Structural Equation Modeling. The study found that perceived good governance in a South African Greek family business context needs to be measured in terms of three factors, namely risk control, the internal regulatory environment and the protection of the stakeholders' interest. The study dealt further with the secondary sources effecting governance for South African businesses and was based on the latest report by the King Commission. An important finding is that the cross cultural aspect of family business governance must now be considered when conducting such research as more and more emphasis is placed on the good governance of all businesses.

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Betancourt, Ramirez Jose Bernardo. "Ownership governance practices and their influence on family businesses financial performance." Doctoral thesis, Pontificia Universidad Católica del Perú, 2020. http://hdl.handle.net/20.500.12404/16196.

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Ownership was usually a system implicitly assumed in the dynamics of company management, but it deserved more attention than a periodic control in the yearly general shareholder´s assembly. Empowerment of owners was required given the magnitude of decisions made in terms of capital and business purpose, and not just delegating it to the Board or the CEO. Despite the relevance of the topic, a gap was identified in the literature of corporate governance in family business from the ownership dimension. This longitudinal study used a quantitative approach with an explanatory scope that which sought to answer the question: Do shareholders corporate governance practices and family control influence financial performance on businesses? 104 public companies were analyzed and 36.5% of them were identified as family businesses, data were used from National Registry of Values and Issuers, which also responded the country Code 'survey of Colombia in the period 2008 to 2014. Data was processed with Student's t test and Random Effects analysis as a panel data technique. Results shown that family and non-family businesses had significant differences in ownership governance practices, but no significant relationship were identified between corporate governance practices of shareholders or family control with financial performance. The theoretical contribution to the areas of corporate governance and family business was to opening a new scenario for the study of ownership governance; the practical contribution was giving rise to the design of a model of practices for shareholders, where they develop a more active role in terms of capital and strategy decisions that exceeded the decision limits of the Board of Directors; Finally, a contribution in public policy was created by supporting the need to highlight corporate governance practices at the owners level, with models that differentiate Family Business and others.
La propiedad era generalmente un sistema implícito en la dinámica de la gestión de la empresa, pero merecía más atención que un control periódico en la asamblea general anual de accionistas. Se requería el empoderamiento de los propietarios dada la magnitud de las decisiones tomadas en términos de capital y propósito comercial, y no solo delegarlo en la Junta o el CEO. A pesar de la relevancia del tema, se identificó una brecha en la literatura de gobierno corporativo de la empresa familiar desde la dimensión de propiedad. Este estudio longitudinal utilizó un enfoque cuantitativo con un alcance explicativo que buscaba responder a la pregunta: ¿Las prácticas de gobierno corporativo de los accionistas y el control familiar influyen en el desempeño financiero de las empresas? Se analizaron 104 empresas públicas y el 36,5% de ellas se identificaron como empresas familiares, se utilizaron datos del Registro Nacional de Valores y Emisores, que también respondió a la encuesta del Código de país de Colombia en el período 2008 a 2014. Los datos se procesaron con la prueba t de Student y análisis de efectos aleatorios como técnica de datos de panel. Los resultados mostraron que las empresas familiares y no familiares tenían diferencias significativas en las prácticas de gobierno de propiedad, pero no se identificaron relaciones significativas entre las prácticas de gobierno corporativo de los accionistas o el control familiar con el desempeño financiero. La contribución teórica a las áreas de gobierno corporativo y empresa familiar fue abrir un nuevo escenario para el estudio del gobierno de propiedad; la contribución práctica fue dar lugar al diseño de un modelo de prácticas para los accionistas, donde desarrollen un papel más activo en términos de decisiones de capital y estrategia que exceden los límites de decisión de la Junta de Directiva; Finalmente, se creó una contribución en las políticas públicas al apoyar la necesidad de resaltar las prácticas de gobierno corporativo a nivel de los propietarios, con modelos que diferencien a las empresas familiares y otras.
Tesis

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Devine, Anthony. "An exploration of governance arrangements and the succession process within family businesses." Thesis, Northumbria University, 2017. http://nrl.northumbria.ac.uk/32459/.

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This thesis explores how governance arrangements relate to the succession process in family businesses. This is achieved through considering how governance ‘works’ in family businesses and the challenges that family businesses face with the succession process. Academic literature has suggested research into governance of family firms is underdeveloped (Lubatkin, Schulze, Ling, & Dino, 2005; Steier, Chrisman, & Chua, 2004). Similarly, codes of governance for non-listed firms have only been present in the professional literature for the past seven years (ecoDa, 2010; IoD, 2010). The codes emphasise the importance of the succession process which remains the most difficult period for family firms (Cabrera-Suarez, Saa-Perez, & Garcia-Almeida, 2001; Dunn, 1999; Handler, 1994; Lansberg, 1988; Morris, Williams, Allen, & Avila, 1997; Yan & Sorenson, 2006). In more recent times, the media has begun to discuss the need for improvements in the management and governance of family firms (Bloom, 2017). For these reasons a study that explores governance arrangements in family firms and how they relate to the succession processes is important. The research is underpinned by a constructionist ontology and a social constructionist epistemology. The data were collected through 16 individual face-to-face, semi-structured interviews, with seven family businesses, from a range of industry backgrounds across the United Kingdom. An inductive, thematic approach was taken enabling themes to emerge from the data analysis. The emergent focus of the findings was an overarching concern for control, both in terms of governance arrangements and the succession process. A theoretical model is presented that shows how ‘moderate’ levels of control lead to ‘optimal’ circumstances for the succession process in family firms. The Family Fundamental Interpersonal Relationship Orientation (FIRO) model (Danes, Rueter, Kwon and Dohery, 2002; Haberman and Danes, 2007) is used as an explanatory framework to propose that ‘optimal’ circumstances are characterised by ‘collaborative’ interpersonal relationships within the family firm. The research findings and the subsequent theoretical model that has been developed are important because they expand knowledge regarding the relationship between governance and the succession process in family firms. It provides family business members, family business consultants and researchers with a fresh perspective on how to approach governance arrangements and potentially control the challenges that arise during the succession process.

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Hannemann, Philipp. "Corporate governance development in privately held family businesses: a multiple case analysis." reponame:Repositório Institucional do FGV, 2014. http://hdl.handle.net/10438/13132.

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The objective of this study is to better understand and illustrate the process and the motivations for corporate governance implementation in Brazilian privately held family businesses. Three case companies were analyzed through an adapted developmental framework to illustrate the progression in corporate governance in response to changes in the ownership, investment and management dimensions over time. In this development, causal relationships between corporate governance and the three other framework dimensions were identified. It was found that the analyzed companies´ corporate governance implementation was motivated by the need to curb agency costs, whereas a cornerstone in this development was the first generational change. Only after the family businesses have reached the necessary maturity on all three dimensions, corporate governance practices were implemented. Put simply, the analyzed case companies developed formal systems as they grew more complex. This study complements the academic discussions on corporate governance in family businesses by offering Brazilian evidence on its underlying motivations and sequential implementation over time.
O objetivo deste estudo é entender melhor e ilustrar o processo e as motivações para a implementação de governança corporativa em empresas familiares brasileiras de capital fechado. Três empresas de caso foram analisadas através de um framework de desenvolvimento adaptado para ilustrar a evolução da governança corporativa em resposta a alterações nas dimensões de propriedade, investimento e gestão ao longo do tempo. Neste desenvolvimento foram identificadas relações causais entre a governança e as outras três dimensões do framework. Verificou-se que a implementação de governança corporativa nas empresas analisadas foi motivada pela necessidade de reduzir os custos de agência, e uma pedra angular neste desenvolvimento foi a primeira sucessão geracional. Simplificando, as empresas estudadas adotaram sistemas formais mais complexos assim que cresceram. Somente após as empresas terem atingido a maturidade necessária em todas as três dimensões foram implementadas práticas de governança. Este estudo complementa a discussão acadêmica sobre governança corporativa em empresas familiares, oferecendo evidência brasileira sobre suas motivações subjacentes e a execução sequencial ao longo do tempo.

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Jansson, Max. "Capital and business structure within small/family businesses : A case study on Liquid Leisure." Thesis, Internationella Handelshögskolan, Högskolan i Jönköping, IHH, Företagsekonomi, 2015. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-27278.

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This is a case study on a water sports facility named Liquid Leisure which is owned by Stuart Marston. The aim of this case study is to get a deeper understanding of Liquid Leisure’s capital and business structure and how it affects Liquid Leisure when trying to raise capital. It will also look at potential knowledge gaps within Liquid Leisure and how these potential gaps have formed Liquid Leisure as a company. There are a significant number of research that point out that small/family businesses operates in different ways compared to large businesses. Because of these deviations it is important to know how small/family businesses think to get an understanding of their advantages and disadvantages. This research will provide a deeper understanding of Liquid Leisure as a small/family businesses and how they address corporate governance, bootstrapping and the agency problem. It will also give an understanding of the advantages and disadvantages facing Liquid Leisure when raising debt and equity. These aspects have been compared to the complexity in the characteristics of small/family businesses. This will later be compared to Stuart Marston’s views and how Liquid Leisure is being operated. The results shows that Liquid Leisure has some characteristics in common with other small/family businesses but that Stuart’s behaviour create some complications for Liquid Leisure.

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Thage, Tuduetso. "Understanding the inter-relationship between governance and organisational culture in South African family owned businesses." Diss., University of Pretoria, 2017. http://hdl.handle.net/2263/59786.

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Family owned businesses play a significant role in the global economy and can thus not be neglected. The contribution of family businesses to the South African economy is growing yearly. Despite their significant contribution, over generations, family owned businesses inevitably face greater complexities. These complex business dynamics can have serious repercussions for the family and the sustainability of the business. A positive correlation has been found between governance and family business continuity. Organisational culture was also found to play a critical role within family businesses. This study therefore focuses on understanding the inter-relationship between governance and organisational culture within family businesses. A total of eleven South African family businesses were selected for the study. The sample population was targeted at owners and family members involved in management within the family business. A phenomenological qualitative research methodology was adopted for the study. The findings of the study revealed that family culture is intrinsically intertwined with organisational culture. The identified dominant cultural dimensions thereof were found to be influential in the development of governance structures across different generations.
Mini Dissertation (MBA)--University of Pretoria, 2017.
sn2017
Gordon Institute of Business Science (GIBS)
MBA
Unrestricted

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Klöckner, Oliver. "Buy-outs in Family Businesses changes in corporate governance, instruments of managerial control, and financial practices /." Wiesbaden Gabler, 2009. http://d-nb.info/99270572X/04.

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Sousa, Maria das Neves Alves de. "A profissionalização em empresas familiares: estudo de casos múltiplos." Universidade de São Paulo, 2016. http://www.teses.usp.br/teses/disponiveis/12/12139/tde-31012017-123510/.

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Este estudo contribui tanto para o processo organizacional como para a literatura sobre empresas familiares. O tema se apresenta relevante quanto ao crescimento do conhecimento sobre o processo de profissionalização em empresas familiares. A medida que as empresas crescem, crescem também os desafios presentes nas empresas, e nas empresas familiares estes desafios são ainda maiores devido as questões da família, propriedade e gestão. Nesta fase, muitos proprietários reconhecem a necessidade de profissionalizar a gestão de suas empresas, isso como preparação para sua continuidade e crescimento. A profissionalização pode ser entendida como um processo na qual as empresas caminham para um processo de maior formalidade, com o desenvolvimento de organismos formais de governança e sistemas de controle. A profissionalização na empresa familiar pode representar uma grande mudança na forma de gestão. Diante disso o objetivo da pesquisa é compreender como acontece o processo de profissionalização na empresa familiar, analisando ainda a governança corporativa e seus mecanismos nessas organizações. Para tal objetivo a metodologia utilizada foi uma pesquisa exploratória e descritiva de natureza predominantemente qualitativa, feita a partir do estudo de casos múltiplos. Para coletar os dados foram realizadas entrevistas semi-estruturadas com gestores das organizações escolhidas, da alta e média administração. A investigação foi realizada em duas empresas familiares, uma com sessenta anos de mercado, do setor de prestação de serviços e a outra com mais de vinte anos de mercado do setor de comércio atacadista. Os resultados mostram que a profissionalização foi motivada pelo desejo de continuidade e crescimento das empresas pesquisadas, e que a profissionalização surgiu ligada a questão do processo sucessório em uma das organizações. A Governança Corporativa pode definir regras e procedimentos para a tomada de decisão pelos agentes nessas organizações, além de monitorar e controlar a utilização dos recursos.
This study contributes to both the organizational process and to the literature on family businesses. The theme is presented as relevant to the knowledge on the management of professionalization in family businesses. As companies grow, the present challenges in businesses also grows, and in family businesses these challenges are even greater due to family issues, ownership and management. At this stage, many business owners acknowledge the need to professionalize the management of their companies, as part of its continuity and growth. Professionalization can be understood as a process in which companies move towards a more formal process, with the development of formal governance and control systems. Professionalization in a family business represents a huge change in management. Therefore, the aim of this research is to understand how the professionalization process takes part in the family business, analyzing also the governance and its mechanisms in these organizations. For this purpose the methodology used was an exploratory and descriptive research predominantly qualitative, made from the study of multiple cases. To collect the data, semi-structured interviews were conducted with managers of the chosen organizations, of high and middle management. The research was conducted in two family companies, one over sixty years, of the service sector and the other with more than twenty years, of the wholesale trade sector. The results present that professionalization was motivated by the desire for continuity and growth, and the professionalization also arises linked to the succession process in one of the organizations. Corporate Governance can define rules and procedures for decision making by agents, as well as monitor and control the use of resources.

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Geng, Jia. "What are the corporate governance challenges for family businesses? : a comparison of the United Kingdom and China." Thesis, Lancaster University, 2018. http://eprints.lancs.ac.uk/89789/.

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The family business is ubiquitous. Its prevalence in the various forms of capitalisms that exist is a clear indication of its importance. Even throughout China’s history and now within its version of a modern socialist market, the family business has proven to be a foundation of societies. In the United Kingdom (UK), family businesses have been successful and had steady growth thanks to a conducive macro-environment that consisted of a democratic political system, an advanced legal system and a Western socialcultural context. In contrast, China has a socialist and centralised political system. It has an inadequate legal framework for its private-sector and is set in a social-cultural context that has strong Confucian underpinnings. Such a macro-environment presented family businesses with immense challenges. Many of the challenges faced by family businesses in advanced Western countries have been addressed through a now healthy and functioning corporate governance framework. Such frameworks are well studied and established in countries such as the UK. China on the other hand, only began its corporate governance reform in the 1990s, mainly focusing on SOEs, and borrowing corporate governance literature from other developed countries. This thesis undertakes a comparative study of corporate governance challenges faced by family business within the macro-environments of China and the UK. A number of challenges faced by family businesses in China are analysed and shown to be intricately related, and so a holistic approach is recommended to find further solutions. By adapting and transplanting Western corporate governance mechanisms, it is possible that challenges can be overcome at an organisational level, despite the macroeconomic differences. Changes to the political and legal systems at a central government level are also proposed to improve the situation for family businesses over the long run.

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Junior, Armando Lourenzo Moreira. "Estratégias de governança na empresa familiar: modelo para redução de conflitos familiares e perpetuação da empresa." Universidade de São Paulo, 2006. http://www.teses.usp.br/teses/disponiveis/12/12139/tde-09062008-103919/.

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O objetivo deste trabalho é a proposição de um modelo de implementação de governança nas empresas familiares de pequeno e médio portes, de modo que mais organizações reduzam seus conflitos e se liberem de um dos principais obstáculos a sua perpetuação. A participação das empresas familiares no conjunto de organizações no Brasil é muito alta e ações que tenham como objetivo a melhoria da sua sobrevivência têm um grande impacto na economia nacional. Os conflitos familiares permeiam grande parte dessas empresas e são especialmente mais críticos em processos sucessórios. A pesquisa foi realizada de forma qualitativa e como delineamento foi utilizado o estudo de casos múltiplos. Para sua realização, foram selecionadas três empresas familiares inseridas nos critérios de escolha definidos, quais sejam: serem de pequeno ou médio porte; estarem em processo de troca de comando da primeira para a segunda geração, ou mesmo tê-lo concluído em um período de até quatro anos; possuírem protocolos familiares e conselhos de família ou societário ou, pelo menos, estarem em uma fase adiantada de implementação desses instrumentos. Como consideração final, é proposto um modelo de implementação de governança na empresa familiar, construído a partir da participação dos respondentes, os quais confirmaram a redução de conflitos em resultado da aplicação de conselhos de família e societário e do protocolo familiar.
The purpose of this work is the proposition of a governance implementation pattern for small and medium sized family enterprises, so that more organizations would be able to reduce conflicts and liberate themselves from some of the main obstacles to their perpetuation. The participation of family enterprises in the ensemble of the Brazilian organizations is very high and the actions taken to improve their conditions to survive have a great impact on national economy. Family conflicts permeate a large number of these enterprises and are especially critical during succession processes. The research was developed in a qualitative form and the study of multiple cases was used as delineation. To its realization three family enterprises were selected according to the defined choosing criteria, that are: to be of small or middle size, to be in the process of changing the command from the first to the second generation or to have finished it four years ago at the most; to have family protocols and family or societary councils or, at least, to be in an advanced phase of the implantation of these tools. Finally, it is proposed a model of governance implementation in the family enterprise, built with the participation of those involved in the enterprise who have confirmed the reduction of conflicts as a result of the utilization of family councils, societary and family protocols.

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Richter, Juliana. "Planejamento sucessório de empresas familiares: uma análise de empresas de pequeno e médio porte sob a perspectiva do fundador." Universidade do Vale do Rio dos Sinos, 2015. http://www.repositorio.jesuita.org.br/handle/UNISINOS/4889.

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As empresas familiares representam 90% das empresas no mundo e também no Brasil. Somente 30% sobrevivem na segunda geração. Dentre as dificuldades encontradas por elas está o planejamento sucessório. Este planejamento tem impactos na gestão e, em especial, no desempenho econômico e governança das empresas, tema debatido academicamente na busca de respostas e de novos modelos. A literatura aponta quatro dimensões deste planejamento: CEO, Família, Propriedade e Gestão/Empresa, sendo neste estudo o líder (CEO) da organização, o fundador da empresa. A partir destas dimensões é possível compreender melhor a dinâmica e complexidade deste tema. Neste contexto, o objetivo deste trabalho é investigar como as empresas familiares de pequeno e médio porte planejam seus processos sucessórios sob a perspectiva do fundador. Para explorar esta questão foi selecionada a primeira geração (fundador) de empresas familiares do estado do Rio Grande do Sul. Com base neste estudo foi possível concluir que há uma tendência de não planejamento formal no tocante à saída do fundador, tanto da liderança como da propriedade, a inexistência de espaços para a família discutir a sucessão do negócio, a dificuldade em separar a gestão da empresa com a propriedade, a falta de estruturas de governança corporativa, a tendência de profissionalização da gestão, o alto valor dado à boa formação dos filhos, a inexistência do planejamento sucessório incorporado nas rotinas das empresas e o desejo de os filhos sucederem sua função mais no aspecto que tange à propriedade do que à liderança. Isto aponta algumas diretrizes para melhoria do planejamento sucessório das empresas familiares estudadas. Estas diretrizes estão fundamentadas nas quatro dimensões. Fundador, Família, Propriedade e Gestão/Empresa.
Family businesses represent 90% of the companies worldwide and so it is in Brazil. Only 30% keep alive on the second generation. Among the difficulties found for these companies is the succession plan. This plan impacts the management and especially the economic performance and governance of the companies, subject academically discussed on the search for answers and new models. The literature indicates four dimensions of this planning: CEO, Family, Property and Management/Company, being in this study, the company leader (CEO), the company founder. From these dimensions, it is possible to better understand the dynamism and complexity of the theme. In this context, the goal of this study is to investigate how small and medium sized family businesses plan their succession processes on the founder perspective. Particularly, to explore this question it was selected the first generation (founder) of family businesses in the State of Rio Grande do Sul. Based on this study it was possible to conclude that there is a tendency of not having a formal planning concerning the founder retirement, since the leadership to the property, the lack of space for the family to discuss the business succession, the difficulty to separate the company management from the property, the lack of corporate governance structures, the tendency of management professionalization , the high value gave to the descendants good educational formation, the lack of the succession plan incorporated in the companies routines and the descendants will to succeed more related to property than to leadership. It brings some directions to the succession plan improvement on the family businesses studied. These directions are based on the four dimensions Founder, Family, Property and Management/Company.

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Koeberle-Schmid, Alexander. "Family business governance : Aufsichtsgremium und Familienrepräsentanz /." Wiesbaden : Gabler, 2008. http://d-nb.info/990375897/04.

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Severino, Bueno Illuminada del Carmen. "L'influence du gouvernement corporatif des entreprises familiales sur son comportement financier : le cas de la République Dominicaine." Thesis, Bordeaux 4, 2012. http://www.theses.fr/2012BOR40013/document.

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Long term family fortune preservation is a matter of human behavior; it is a dynamic process of activity or group governance that has to be reenergized successfully in each successive generation to overcome the threat of falling into entropy. Each successive generation has to reaffirm its participation in such government system.Family enterprises are the fundamental actors of the economic activity, and also constitute a stability factor of the productive system, because the majority of them is small or medium-sized (SMEs), and that is why it is interesting to investigate their financial behavior.There is little knowledge concerning financing decisions of enterprises on emerging markets. There is a particular need of empirical work that identifies the financial patterns of developing countries enterprises. It is possible that these enterprises are creating a new financial structure that results convenient for their particular environment
Long term family fortune preservation is a matter of human behavior; it is a dynamic process of activity or group governance that has to be reenergized successfully in each successive generation to overcome the threat of falling into entropy. Each successive generation has to reaffirm its participation in such government system.Family enterprises are the fundamental actors of the economic activity, and also constitute a stability factor of the productive system, because the majority of them is small or medium-sized (SMEs), and that is why it is interesting to investigate their financial behavior.There is little knowledge concerning financing decisions of enterprises on emerging markets. There is a particular need of empirical work that identifies the financial patterns of developing countries enterprises. It is possible that these enterprises are creating a new financial structure that results convenient for their particular environment

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Picchi, Marcelo Rodolfo [UNESP]. "Contribuições das práticas de governança corporativa no processo de profissionalização das empresas familiares do agronegócio: um estudo multicasos no segmento de implementos agrícolas." Universidade Estadual Paulista (UNESP), 2017. http://hdl.handle.net/11449/151626.

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Este trabalho teve como objetivo geral fazer uma análise crítica sobre como as práticas de governança corporativa podem contribuir para o processo de profissionalização das empresas familiares pertencentes ao agronegócio. Para tanto, foi realizada uma pesquisa empírica de caráter descritivo e abordagem qualitativa, utilizando como método o multicasos, tendo como pano de fundo casos representativos do segmento de implementos agrícolas. A pesquisa identificou os fatores facilitadores dentre os quais se destacam: necessidade de uma maior participação dos acionistas nas decisões da empresa, conflitos de interesses, conflitos de sucessão, desgaste excessivo no processo administrativo familiar e necessidade de planejamento estratégico. Dentre os fatores restritivos se destacam: dificuldade de separação de papel sócio e gestor, resistência à mudança, divergências de opiniões, questões culturais, dificuldades financeiras e escassez de gestores capacitados e confiáveis para o processo de implantação da governança corporativa no âmbito da propriedade, família e gestão das organizações estudadas. Buscou-se também elaborar um roteiro contendo os principais passos para a implantação das práticas de governança corporativa. Finalizando, concluiu-se que as práticas de governança corporativa podem, sim, atuar como catalisadores do processo de profissionalização, desde que sejam aplicadas assertivamente e de forma adaptada ao contexto de cada organização.
The main goal of this paper is to make a critical analysis on how the corporate governance practices can contribute to the process of professionalization of the agribusiness family businesses. For that purpose, an empirical research of descriptive design and qualitative approach was carried out, using a multicase study as the method, analyzing representative cases of the agricultural implements segment. The research identified the facilitating factors such as the need for greater participation of shareholders in company decisions, conflicts of interest, succession conflicts, excessive wear on family administrative processes, and need of strategic planning. Among the restrictive factors are: the difficulty in separating the roles of manager and business partner, resistance to change, divergence of opinions, cultural issues, financial difficulties and scarcity of skilled and reliable managers for the implementation process of corporate governance in what concerns property, family and management of the organizations studied. This study also aimed at elaborating a script with the main steps for the implantation of corporate governance practices. Finally, the main conclusion is that the practices of corporate governance can act as catalysts for the professionalization process provided that they are applied assertively and in an adapted way to the context of each organization.

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Arellano, Rejas Jonathan Daniel, and Gutierrez Juan Miguel Castañeda. "Gobierno Corporativo y Gestión de Crisis en la Empresa Familiar." Bachelor's thesis, Universidad Peruana de Ciencias Aplicadas (UPC), 2021. http://hdl.handle.net/10757/655692.

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En el 2020, se presentó la pandemia global a causa de la COVID-19, lo cual significó uno de los mayores desafíos para las economías globales incluidas las empresas familiares. Bajo ese contexto, muchas empresas familiares a nivel global se enfrentaron al desafío de aprender a reinventarse o desaparecer en el proceso. Aquellas empresas familiares que no supieron adaptarse a este entorno cambiante fueron desapareciendo. Por su naturaleza, las empresas familiares tienden a ser más complejas pues, además de lidiar con los desafíos comunes del negocio, deben hacer frente a las demandas y los intereses de la familia propietaria. Sin embargo, también han demostrado ser organizaciones más longevas que aquellas empresas no familiares, dado que sus ventajas competitivas se relacionan directamente con su capacidad para la continuidad del negocio familiar, que les permite afrontar los estadios de crisis con éxito. Lo anterior debido a que este tipo de empresas basan su supervivencia a través de múltiples generaciones en el tiempo y su riqueza socioemocional. El presente trabajo comparte cinco prácticas de gobierno corporativo clave que adoptan las empresas familiares para superar los entornos de crisis: (i) La estructura de los órganos de gobierno; (ii) La independencia del directorio; (iii) La actividad del directorio; (iv) El tamaño del directorio; y (v) La dualidad del CEO. Esto les permite desarrollar sus ventajas competitivas para mantenerse activas en entornos de crisis y adaptarse con éxito. Todo ello basado en sus fuentes de aprendizajes pasados, su riqueza socioemocional y el destacado aporte del gobierno corporativo, para mantener alineado las estrategias de negocio con los intereses de la familia.
In 2020, the global pandemic caused by Covid-19 was one of the greatest challenges for global economies, including family businesses. In this context, many global family businesses faced the challenge of knowing how to reinvent themselves or disappear in the process. Those family businesses that are not able to adapt to this changing ecosystem will disappear. By their nature, family businesses tend to be more complex because, in addition to dealing with common business challenges, they have to cope with the demands and interests of the family that owns them. However, they have also proven to be long-lived organizations, since their competitive advantages are directly related to their capacity for continuity of the family business, which allows them to successfully face the stages of crisis. For this type of companies base their survival through multiple generations over time and their socioemotional wealth. This paper shares five key actions, based on corporate governance structures, that family businesses adopt to overcome crisis environments: (i) Governance body structure; (ii) Board independence; (iii) Board activity; (iv) Board size; and (v) CEO duality. This allows them to develop their competitive advantages to remain active in crisis environments and adapt successfully. All this is based on their sources of past learning, their socio-emotional wealth and the outstanding contribution of corporate governance to keep business strategies aligned with family interests.
Trabajo de Suficiencia Profesional

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Farndell, Mark. "The role of governance: family owned butchery." Thesis, Nelson Mandela Metropolitan University, 2010. http://hdl.handle.net/10948/1509.

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The importance of SME family businesses is evident in society. Coming out of a recession, the innovation, labour absorption and employment creation capabilities of SMEs and family businesses globally, and in emerging economies with high levels of unemployment and poverty, is incredibly important for environmental sustainability and societal harmony. Good governance is empirically proven to improve long-term sustainability of organisations, and poor governance is linked to the demise of many businesses – large and small, family and non-family businesses alike. This research, by means of a thorough literature review of family business and governance, and a single in-depth case study, identifies the components of SME family business governance in a contextual setting in South Africa. The literature review defines SMEs, family businesses and corporate governance. It reviews the nuances of family businesses that make them distinctive from non-family businesses, the models of family businesses that have been developed over time, the approaches to corporate governance, corporate governance codes of conduct, and family business governance models, as well as the components and dynamics of family business governance. The qualitative case study approach adopted enables the in depth contextual identification and exploration of the dynamics of family business governance. Empirical data collected from interviews, observations and reports are analysed using triangulation and pattern matching logic to ensure validity and reliability. Empirical findings are discussed with reference to the literary research findings, integrating literary and empirical findings, and resulting in the development of a conceptual model of family business governance, an SME family business governance structures model, and an SME family business authority delegation model. Governance is defined as the manifestation of the intent of the founder/owners of the business. Governance is manifest in structures, strategies, policies, procedures, relationships and performance. The reciprocity of transfers and outputs between the family business systems, the family business and its contextual environment is reflected in the performance of the business; which in turn is a reflection of the governance of the family and the family business. The study concludes with the importance of the family and its cohesion and harmony, and the impact it has on synergy, unity and harmony in the business. The study also finds that governance is strategic leadership, and that efficient and effective governance leads to synergies between the family, the family business and its contextual environment that when harnessed and directed towards a vision, can produce unimitable competitive advantages for the family firm.

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Björn, Emma, and Lovisa Stenström. "The Family Council : A commucation forum in the family business." Thesis, Jönköping University, JIBS, Business Administration, 2007. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-870.

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Roehe, Claudia Lac. "Investigação das contribuições das práticas de governança corporativa : estudo de caso em empresas familiares do Rio Grande do Sul." reponame:Biblioteca Digital de Teses e Dissertações da UFRGS, 2017. http://hdl.handle.net/10183/172170.

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Os mecanismos de governança corporativa são originalmente propostos para empresas de capital aberto, entretanto suas práticas podem minimizar os problemas de agência encontrados em empresas de controle familiar ao estabelecer regras para as relações entre família, patrimônio societário e gestão, além da clássica separação entre propriedade e controle. São notórias a forte presença de grupos familiares e a alta concentração de propriedade entre empresas de capital privado nacional. Muitas das dificuldades enfrentadas são comuns entre as organizações familiares, entretanto, não existem regras e soluções que atendam a todas de modo satisfatório. Dessa forma o trabalho consistiu no estudo de caso de quatro empresas familiares do Rio Grande do Sul em que são investigados o alinhamento das práticas e estruturas de gestão das empresas pesquisadas às práticas de governança corporativa.
Corporate governance mechanisms are originally proposed for publicly traded companies, but their practices can minimize the agency problems found in family-owned companies by establishing rules for family relationships, corporate equity and management, as well as the classic separation between ownership and control. Notable are the strong presence of family groups and the high concentration of ownership among national private equity firms. Many of the difficulties faced are common among family organizations, however, there are no rules and solutions that suit all of them satisfactorily. In this way the work consisted of the case study of four family companies from Rio Grande do Sul in which the alignment of the practices and management structures of the surveyed companies with the practices of corporate governance are investigated.

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HE, Shaohua. "Auditor choice, audit fees and internal governance in family firms." Digital Commons @ Lingnan University, 2010. https://commons.ln.edu.hk/fin_etd/3.

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I study the role of auditing in mitigating agency concerns in family firms. Family firms face less severe agency problems due to the separation of ownership and control (Type 1) but more severe agency problems between controlling and noncontrolling shareholders (Type 2). As family firms make up a large part of most free enterprise economies it is important to examine these two agency problems with respect to auditor choice and audit effort. I find that family firms are more likely to choose a specialist auditor than nonfamily firms, consistent with the argument that family firms need to signal their non-expropriating behaviors by choosing specialist auditors. I further find that audit fees are lower in family firms compared to nonfamily firms, consistent with the hypothesis that the Type 1 agency conflict dominates the Type 2 agency conflict in the determination of audit effort and pricing. Moreover, consistent with prior literature that states that effective internal governance demands a quality auditor and more audit effort irrespective of ownership structure, I find that the positive association between family ownership and specialist auditor choice is stronger when internal governance is strong and the negative relation between audit fees and family ownership is weaker when the internal governance is strong. I find that these results on audit fees are robust to the use of alternative measures of concentrated influence such as CEO ownership, inside director ownership, and the presence of one or more founder directors. I also find that the effect of internal governance on audit fees is not limited to one or a few components of internal governance.

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Kewitz, Martin, Clas Nordström, and Sören Salzwedel. "The Family Business in a Global Context : The Rationale behind Corporate Governance Structures in Subsidiaries Abroad." Thesis, Internationella Handelshögskolan, Högskolan i Jönköping, IHH, Företagsekonomi, 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-18200.

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Background: Family Businesses represent the highest proportion of businesses in the world (Lin, 2012). Globalisation offers new business opportunities for growth and in-ternational diversification. Generally the internationalisation of family businesses is a well-studied field in family business research (Kontinen & Ojala, 2009). Still, there are certain shortcomings when it comes to the specific area of corporate governance adapta-tion in family firms that open subsidiaries (Calabro & Mussolino, 2011). Hence, this paper analyses the proceedings of family firms that internationalise through a subsidi-ary. From a methodological standpoint, existing studies concerned with family business internationalisation focus on quantitative research approaches. The results of these in-clude some limitations, since they cannot account for questions such as how and why family firms proceed during diversification (Kontinen & Ojala, 2009). Purpose: The purpose of this study is to investigate the rationale behind corporate gov-ernance structures in family businesses, focusing on the special case of internationalisa-tion through a subsidiary. Frame of Reference: A summary of recent research regarding the three main issues family businesses, internationalisation, and corporate governance will be given in the frame of reference. This theoretical background will serve as the basis for a solid analy-sis of our empirical data. Method: A qualitative approach with an extensive literature review and a case study based on in-depth interviews with employees of the company Väderstad-Verken AB was chosen in order to fulfil the purpose. Conclusion: The rationale behind corporate governance structures when setting up a subsidiary abroad is driven by the ambition to preserve a family firms’ stewardship ori-ented culture and its informal structures. The result of this is better collaboration, which serves the mission of the business.

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Zhang, Xian. "Family ownership and business performance of unlisted Chinese family firms : the mediating roles of hybrid governance mechanisms and guanxi networks." Thesis, University of Wales Trinity Saint David, 2010. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.683095.

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Aguirre, Caio Eduardo. "Mediação em empresas familiares." Pontifícia Universidade Católica de São Paulo, 2015. https://tede2.pucsp.br/handle/handle/6866.

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This work analyzes the private mediation and the possibility of its application in the environment of family-owned companies. An old means of conflict resolution, mediation resurfaces in today s society with a prominent role, boosted by the crisis in the Judiciary and the certainty that court judgments not always are the best way to solve problems. Recommended in situations in which the parties have a continuing relationship, mediation may, and in fact should, be used in the context of family-owned companies. Such companies have also been attracting the scholars attention due to their peculiarities and the challenge that it is to perpetuate them in an environment where professional activities and affective relationships among family members coexist. This study addresses the characteristics of both mediation and family-owned companies, with the purpose to show that there is great compatibility between them. The ways in which mediation may be enabled in this corporate environment are also analyzed, which requires a study on corporate governance focused on family-owned companies
O presente trabalho analisa a mediação privada e a sua possível utilização no ambiente das empresas familiares. Meio antigo de solucionar conflitos, a mediação ressurge com destaque na sociedade atual impulsionada pela crise do Poder Judiciário e pela constatação de que a sentença judicial nem sempre é a melhor forma de solucionar problemas. Indicada para situações nas quais as partes têm uma relação continuada entre si, a mediação pode e deve ser usada no contexto das empresas familiares. Estas empresas vêm, igualmente, atraindo a atenção dos estudiosos por suas características peculiares e pelo desafio de sua perpetuação num ambiente de coexistência de atividades profissionais e relações afetivas entre os familiares. O estudo aborda as características tanto da mediação como das empresas familiares com o intuito de demonstrar que há grande compatibilidade entre ambas. Também são analisadas as formas pelas quais a mediação pode ser viabilizada nesse ambiente corporativo, o que implica no estudo acerca da governança corporativa voltada para as empresas familiares

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Wang, Wenming. "Essays on corporate governance and audit quality within family business groups : evidence from Hong Kong." HKBU Institutional Repository, 2011. http://repository.hkbu.edu.hk/etd_ra/1253.

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Mourão-Ferreira, David Mercês de Mello. "Longevity in family firms : Jerónimo Martins' case study." Master's thesis, Instituto Superior de Economia e Gestão, 2013. http://hdl.handle.net/10400.5/6195.

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Mestrado em Ciências Empresariais
Many family firms find it difficult to reach their fourth generation; nevertheless, these firms have some features that may help them to achieve success and longevity. This thesis tries to identify some critical issues that often prevent family companies to survive over time and tries to analyse how family company Jerónimo Martins could overcome obstacles and achieved success and longevity through a good management of the interference of the family sphere in the work sphere.
Muitas empresas familiares têm dificuldade em atingir a quarta geração. No entanto, estas empresas têm algumas características que podem ajuda-las a alcançar o sucesso e a longevidade. Esta tese tenta identificar algumas questões críticas que muitas vezes impedem as empresas familiares de sobreviver ao longo do tempo e tenta analisar como a empresa familiar Jerónimo Martins conseguiu ultrapassar obstáculos e alcançar o sucesso e a longevidade através de uma boa gestão da interferência da esfera familiar na esfera do trabalho.

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King, Roger. "Two essays on corporate finance : the impact of independent non-executive directors and the longevity of family control /." View abstract or full-text, 2006. http://library.ust.hk/cgi/db/thesis.pl?FINA%202006%20KING.

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Wong, Wai-kei. "A study of corporate governance among the listed Chinese family enterprises in Hong Kong /." Hong Kong : University of Hong Kong, 2001. http://sunzi.lib.hku.hk/hkuto/record.jsp?B23595930.

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Mártires, Miguel Ángel, and Kamil Sawicki. "Family Controlled Firms on the Stock Market : Do family-controlled firms show a convergence in corporate governance systems?" Thesis, Jönköping University, JIBS, Business Administration, 2008. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-1365.

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Background:

Family-business is considered to be the most frequent and complex form of business

organization around the world. However, recently there has been a large number of

corporate scandals in such firms especially at the board level (e.g. Parmalat). Within the

framework of two corporate governance models characterized by the Continental European

and the Anglo-Saxon model, boards of directors hold a central position. This position

becomes of great importance when talking about public companies and more specifically in

public family-controlled companies. The concentration of ownership is the main

characteristic of the Continental European, which is the most workable form of corporate

governance for family-controlled business. Nevertheless, family-controlled companies acting

under the Anglo-Saxon model have also been able to operate successfully. Therefore, we

will investigate if there is a convergence of corporate governance in family-controlled

companies across frontiers focusing mainly on boards’ structures and composition as well as

ownership, and the sub-committees.

Purpose:

The overall purpose of this thesis is to contribute to the understanding of Corporate

Governance in public Family-controlled firms which are in the Swedish and United

Kingdom stock market. More specifically, investigate whether the boards’ structures and

composition, as well as ownership and the existence of sub-committees show similarities or

not in Family-controlled firms acting within the framework of an Anglo-Saxon and

Continental model of Corporate Governance

Method:

A quantitative approach was used to fulfill the purpose of this thesis. Furthermore, the top

10 family-controlled companies with highest market-capitalization have been selected from

both countries to constitute our sample. The empirical material was gathered mainly from

the annual reports of the companies but also by contacting the companies by email or from

articles in online newspapers.

Conclusion:

This study found that in some aspects of corporate governance convergence exists while in

others it does not. Regarding board structures and composition, there is a convergence to

“one tier board” and the presence of family members and employee representation in boards.

On the other hand, when it comes to the sizes of the boards and number of independent

directors in the boards we argue that convergence is not present.

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Wang, Dechun. "Founding family ownership and accounting earnings of quality /." free to MU campus, to others for purchase, 2004. http://wwwlib.umi.com/cr/mo/fullcit?p3144465.

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Ge, Yongsheng. "Famirī bijinesu ni okeru kōporēto gabanansu." online access from Digital Dissertation Consortium, 2007. http://libweb.cityu.edu.hk/cgi-bin/er/db/ddcdiss.pl?3300402.

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Choi, Edward Woong Shik. "Family-Owned or -Managed Higher Education Institutions: A Special Kind of Governance." Thesis, Boston College, 2020. http://hdl.handle.net/2345/bc-ir:108708.

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Thesis advisor: Hans de Wit
The family ownership context has been investigated across many business settings, within the manufacturing, trade, and services industries. The consensus among scholars has been that families that own and operate firms act in self-serving ways and frame organizational problems and make decisions with the primary goal of satisfying the family’s affective needs, i.e., preserve or augment what is referred to as socioemotional wealth. However, the theoretical reasoning of socioemotional wealth theory may fall apart in traditional university settings, where self-serving behaviors may lead to (pronounced) agency conflict. Universities have been long understood for their politicized governance environs in which multiple stakeholder groups have representation in decision-making. Within this reality, families involved in higher education management may be challenged to act self-servingly and protect or enhance certain socioemotional wealth. They may need to act in altruistic ways to avoid agency conflict. I investigate whether this is the case through a single, critical case study approach conducted at one family-owned or -managed university in India. I rely on what Yin (2003) refers to as “rival explanation as patterns” to test socioemotional theory relative to a rival theoretical framework. I ask the important question of whether this rival theory can address the limitations of socioemotional wealth theory when applied to the higher education context. As expected, findings generally suggest that where socioemotional wealth theory fails to capture family decision-making behaviors, the rival theory is relevant. This finding is important to consider and has several implications to theory, practice, and future research. Importantly, the findings support that current family-owned business theorizing is not enough to capture family decision-making behaviors in the context of traditional university settings
Thesis (PhD) — Boston College, 2020
Submitted to: Boston College. Lynch School of Education
Discipline: Educational Leadership and Higher Education

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Velloso, Simone Pitten. "Governança corporativa e empresas familiares em processo sucessório : a visão de consultores e de famílias empresárias." reponame:Biblioteca Digital de Teses e Dissertações da UFRGS, 2012. http://hdl.handle.net/10183/56665.

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Estudos sobre empresas familiares tem se mostrado crescentes nos últimos anos, e indicado a relevância da questão sucessória à continuidade de tais empresas para futuras gerações. A governança corporativa tem sido apresentada como alternativa de monitoramento e transparência à boa resolução do processo sucessório. Sua aceitação por parte dos membros de empresas familiares, entretanto, ainda esbarra na carência de conhecimento de experiências acerca de sua real eficácia. Diante disso, com o objetivo de descrever e analisar a governança corporativa na empresa familiar na visão de consultores e de membros de famílias empresárias desenvolveuse pesquisa exploratória de orientação qualitativa que congregou a base teórica relativa à governança corporativa a empresas familiares. A coleta de dados deu-se por meio de entrevistas individuais semiestruturadas com consultores em governança corporativa e membros da segunda e terceira geração de famílias empresárias. Analisados à luz da literatura pertinente, os dados apontam que tanto consultores como membros de famílias empresárias compartilham visão favorável à relevância da governança corporativa às empresas familiares em processo sucessório. Além disso, compartilham a visão de que apesar de o processo sucessório ser árduo, longo e de envolvimento emocional expressivo; por meio de regras, estruturas definidas de papéis, e possibilidade de minimizar os conflitos latentes nas relações existentes, a ação da governança corporativa fortalece a empresa familiar para crescer e se desenvolver, perpetuar-se, e, inclusive, tornar-se mais atrativa ao mercado.
The studies on family companies have significantly increased in the past years, indicating the succession relevance for the longevity of these companies to future generations. Corporate governance has been presented as monitoring in a transparent way the succession process. Its acceptance from members of familiar companies, however, is not easy due to the lack of information regarding its actual effectiveness. Aiming to describe and analyze the corporate governance in family business from the consultant and members of the family business point of view, it was developed an exploratory research on a qualitative basis that highlighted the theory concerning corporate governance in relation to family business. The collection of data was through individual semi structured interviews with corporate governance consultants and members from the second and third generation of entrepreneur’s families. Analyzed by a consistent literature, the data indicates that both consultants and members of entrepreneur’s families share a favorable vision to the relevance of the corporate governance to the entrepreneur’s families in a succession process. Besides that, they share a view that even though the succession process is tough, long and requires a high emotional involvement, the action of the corporative governance fortifies the family business to grow and to develop, to perpetuate and also to become more attractive to the market through some rules, structures defined of roles and the possibilities of minimizing the latent conflicts in the relationships.

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Matesco, Karen. "A problemática da sucessão em empresas familiares e a instrumentalização da governança corporativa: um estudo de caso." reponame:Repositório Institucional do FGV, 2014. http://hdl.handle.net/10438/12275.

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This research intends to study the family succession issues, what is normally considered the worst moment In the lives of family business Since companies strength’s in family ones are related to founder personal aspects, when he or she is left the company, many times, fails. Sometimes the family succession occurs at the same time of professionalizing need issues. To face these challenging moments, Corporate Governance is presented as a possible framework and will be study in this paper.
A presente pesquisa aborda a problemática enfrentada pelas organizações familiares quando enfrentam processos sucessórios. O estudo apresenta que muito embora tenham experimentado uma vida pregressa de êxito empresarial, quando essas organizações estão diante do processo sucessório, se veem diante de seu momento mais crítico. Isso porque o sucesso desse tipo de organização é normalmente atribuído à existência de traços pessoais do fundador. Em muitas empresas familiares, como a do caso estudado, o processo de sucessão ocorre ainda em um momento de mudanças do cenário, em que, mais do que somente substituir o fundador, é preciso pensar em uma nova organização. O trabalho foi desenvolvido pelo método de estudo de caso e teve como objetivo refletir sobre a possível aplicação dos conceitos de governança corporativa como meio de enfrentar tanto a sucessão quanto a pressão pelo estabelecimento de uma nova organização.

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Wong, Wai-kei, and 王偉琪. "A study of corporate governance among the listed Chinese family enterprises in Hong Kong." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2001. http://hub.hku.hk/bib/B31242455.

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Al, Moosa Abdulla. "Transformational leadership & excellence in family managed enterprises." Thesis, Brunel University, 2014. http://bura.brunel.ac.uk/handle/2438/14942.

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This study examines how the adoption of transformational leadership by the patriarchs in GCC elevates learning, innovative capabilities and competencies of employees to deliver differentiated products and retain competitive advantage. It aims to explain how the adoption of the following attributes allows a patriarch in a family firm to abandon autocratic practices, attain performance excellence and sustain growth: To explore the above, mixed method of research is used. It leads to the utilization of a questionnaire and indepth interview schedule. It facilitates the use of a Survey of 179 respondents and an interview of 12 participants. Multiple Regression Analysis and Content Analysis are used to assess the validity of the data obtained from the responses. The findings of the study reveal that the patriarchs in family firms realize the importance of embracing transformational leadership qualities to change and connect to employees emotionally, win their trust and loyalty. Focus these stimulates their passion to mentor employees, encourage creativity, demonstrate admirable behaviour, display of convictions, articulate vision, challenge assumptions, encourage creativity. The findings also clarify that over reliance on such leadership qualities may not help patriarch and family firms in the GCCC. Such reliance breeds a false sense of power and leadership, weakening unity of command, and promoting indiscipline and disorderly actions. They dampen collective competence and impair the desire to act in time and attain goals set. Such failure constricts abilities of family firms to compete and sustain growth in the region. Finally the study highlights the necessity to control such weaknesses. The motivation to alter these leads patriarchs to adopt transactional leadership qualities, namely contingent rewards and management-by exception, in conjunction with transformational leadership qualities. Their combined application influences the passion of employees to pursue judicious innovation, orderly measures to excel, surpass benchmarks set, compete and establish leadership in the GCC.

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Kim, Dongjeen. "Corporate governance and political economy in South Korea : family ownership, control of business groups, and state-led capitalism." Thesis, University of Oxford, 2017. https://ora.ox.ac.uk/objects/uuid:953024cb-1678-4142-b436-7cfe80e2bb6d.

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The evolving nature of the Korean 'chaebol' - both a business group and the founding family who control the corporation - continues to intrigue scholars of corporate governance (Khanna and Yafeh, JEL 2007). In my thesis, I investigate these multi-generational controlling families to explain the chaebol's significance in the historical evolution of South Korea's political economy during the 20th century. My research first describes the origins of chaebol entrepreneurs and details their role in the growth of light industry before the the rise of state-led industrialisation during the social revolution of the 1960s in South Korea. I then consider the specific institutional features which appear to work against family control, even though they would ultimately support its proliferation: 1) progressive politics; 2) inheritance tax; and 3) ownership dispersion. Notably, my analysis of these distinctive institutions provides a clearer understanding of the contemporary behavior of the chaebols and their ability to maintain family control over many decades of growth. In order to better understand the role of controlling families, during the state-led industrialisation period (1961-1988), I analyse their corporate networks and their ability to wield political power. To do so, I employ an unconventional source of evidence: a database of marriages among chaebol families. This research is theoretically grounded in the contact capabilities hypothesis advanced by Amsden (1989) and Guillén (2001a, 2001b with Kock). My scholarly approach complements parallel research on human networks within the state. My findings have implications for: 1) the epochal nature of chaebol-political networks; and 2) the market reaction to such network events, thus demonstrating the economic significance of these informal networks. In my last chapter on the post-1998 era of financial liberalisation, I explore the evolution of the ownership structure within the business group as it relates to policy history. I do this through an analysis of The Holding Company Act of 1999, and show how the controlling families in South Korea found novel ways to use the Act to support their family ownership and corporate control in spite of the original intentions of the regulators. As I show, share buyback programmes, first popularized in Anglo-American financial markets, were crucial to the maintenance of chaebol. As it turns out, liberal policies, imported from the West, proved no more able to limit family capitalism in South Korea than domestic policy had been during the preceding state-led industrialisation era. Nonetheless, activist investor has a special role to play.

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Tarmizi, Achmad. "Corporate governance of family firms and voluntary disclosure : the case of Indonesian manufacturing firms." UWA Business School, 2007. http://theses.library.uwa.edu.au/adt-WU2008.0042.

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Weakness in corporate governance and lack of transparency are often considered causes of, or contributors to, the Asian Financial Crisis. Publicly listed companies in Indonesia, like other Asian firms, have a concentrated ownership structure. Focusing on manufacturing firms listed on the Jakarta Stock Exchange (JSX) for the year 2003, this study adopts an agency framework to examine voluntary disclosures included in the annual reports of 149 Indonesian firms and their relationship to various attributes such as: ownership structure; whether a firm is family-owned or not; the owner's involvement in either the Board of Commissioners or Board of Directors; and whether the firm is affiliated with a business group. The results mostly support the notion that ownership structure affects the extent of disclosure in annual reports. First, the results show that, compared to firms with a nonmajority ownership structure, voluntary disclosure is lower in firms with a majority ownership structure. Second, the results indicate that family owned firms are more likely to exhibit lower voluntary disclosure than are non-family owned firms. Third, the analysis shows that, among family firms, firms with a majority (compared to those with a non-majority) ownership structure are more likely to have lower levels of voluntary disclosure. Fourth, the results indicate that, among family firms, firms affiliated with a business group are more likely to make lower voluntary disclosures than independent firms. In contrast, the empirical analysis failed to support the hypothesis that, among family firms, voluntary disclosure would be lower in firms where the owners are involved in the Board of Commissioners compared to those where there is no owner involvement in the Board of Commissioners. Similarly, the results failed to support the hypothesis that, among family firms, voluntary disclosure would be lower in firms where the owners are involved in the Board of Directors compared to those where there is no owner involvement in the Board of Directors. Robustness checks performed using alternate measures of disclosure and the degree of ownership structure did not substantially change the conclusions. This thesis contributes to our understanding of how family firms are governed and the impact of corporate governance on a firm?s level of voluntary disclosure. The results have implications for policy makers and regulators in Indonesia striving to improve corporate governance and transparency.

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Semann, Graziela Marconcini. "Profissionalização de empresas familiares : os casos da metalúrgica Riosulense S/A e da Pamplona Alimentos S/A no município de Rio do Sul, S.C." Universidade do Estado de Santa Catarina, 2013. http://tede.udesc.br/handle/handle/111.

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The objective of this study was to analyze how the process of professionalization occurred in family businesses Metallurgical Riosulense S / A and Pamplona Foods S / A in the municipality of South River/ S.C., considering the context, content and process (Pettigrew, 1987). Organizations go through phases and cycles of life during its trajectory (Adizes, 1990), and the transitions from one stage to another contribute to organizational changes that occur and consequently emerges during the course of the company, the need for professionalization. The professionalization of family businesses consists in the conduct of business by competent and adequately trained professionals for management positions, for persons of family or non-family persons in the family owning the organization (LODI, 1978; BERNHOEFT, 1989; MIRANDA; GRZYBOVSKI, 2012; VEGA LÓPEZ ET AL.,2013). For such was made a qualitative multicase study (Godoy, 2006), exploratory and descriptive (Richardson, 1999; Yin, 2005). The collection of data encompassed with semi-structured interviews with the founders, successors, directors, officers and managers the surveyed companies, and documentary research in the minutes, records, and other historical documents provided by the organizations. After, there was a content analysis of the data collected and systematized, in a thematic framework from the analysis model. As the survey results, it was found that the company Pamplona, from its context, was proactive attitude change, in which members of the second generation searched training in other family businesses, so that the succession occurred in a professionalized manner, resulting in the currently conduct of business by familiar and unfamiliar professional members. It emphasize that the majority of family members of the second generation act directly in company management. The company Riosulense was punctuated in context by changes in their activities and during the process of professionalization, there have been external crises that directly affected the market in which the company operates. Therefore, the professionalization that began because of the growth of the company and internal management challenges, was consolidated later when the need emerged for perpetuating the company and adapt-the precepts of corporate governance (IBGC, 2010). As management practices used by the two companies studied was identified that there was hiring an external consultant to assist in the professionalization process, there was the legalization of equity and the clear distinction of the roles Family, ownership and management (Gersick et al, 1997) and was the constitution and / or operationalized the Management Board. The two organizations also had the consolidation of the professionalization process when the process of succession happened (OLIVEIRA; ALBUQUERQUE, PEREIRA, 2012).
O objetivo deste estudo foi analisar como ocorreu o processo de profissionalização nas empresas familiares Metalúrgica Riosulense S/A e Pamplona Alimentos S/A do município de Rio do Sul/SC, considerando o contexto, conteúdo e processo (PETTIGREW, 1987). As organizações passam por fases e ciclos de vida durante sua trajetória (ADIZES, 1990), e as transições de uma fase para outra contribuem para que ocorram mudanças organizacionais e consequentemente emerge no decorrer da trajetória da empresa, a necessidade de profissionalização. A profissionalização de empresas familiares consiste na condução da empresa por profissionais competentes e devidamente capacitados para os cargos de gestão, podendo ser ou não membros da família proprietária da organização (LODI, 1978; BERNHOEFT, 1989; MIRANDA; GRZYBOVSKI, 2012; VEGA LÓPEZ et al.,2013). Para tal, foi efetuado um estudo multicasos qualitativo (GODOY, 2006), de caráter exploratório e descritivo (RICHARDSON, 1999; YIN, 2005). A coleta de dados abarcou entrevistas com roteiro semiestruturado junto aos fundadores, sucessores, conselheiros, diretores e gerentes das empresas pesquisadas e, pesquisa documental em atas, registros, históricos e demais documentos disponibilizados pelas organizações. Após, fez-se a análise do conteúdo dos dados coletados e sistematizados, em um quadro temático definido a partir do modelo de análise. Como resultados da pesquisa, identificou-se que a empresa Pamplona, a partir do seu contexto, teve atitude proativa a mudança e os membros da segunda geração buscaram treinamento em outras empresas familiares, para que a sucessão ocorresse de maneira profissionalizada, resultando atualmente na condução da empresa por membros familiares e não familiares profissionais. Cabe destacar que a maioria dos membros da família da segunda geração atuam diretamente na gestão da empresa. A empresa Riosulense foi pontuada em seu contexto por mudanças em suas atividades e, durante o processo de profissionalização, ocorreram crises externas que afetaram diretamente o mercado em que a empresa atua. Diante disso, a profissionalização que se iniciou em função do crescimento da empresa e desafios internos de gestão, consolidou-se posteriormente quando emergiu a necessidade de perpetuar a empresa e adequar-se aos preceitos da governança corporativa (IBGC, 2010). Como práticas de gestão utilizadas pelas duas empresas estudadas foi identificado que houve contratação de consultoria externa para auxiliar no processo de profissionalização; houve a legalização do patrimônio bem como a separação clara dos papeis família, propriedade e gestão (GERSICK et al, 1997) e também foi constituído e/ou operacionalizado o conselho de administração. As duas organizações também tiveram a consolidação do processo de profissionalização quando ocorreu o processo de sucessão (OLIVEIRA; ALBUQUERQUE; PEREIRA, 2012).

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Ring, John Kirk. "Stakeholder salience in the family firm." Diss., Mississippi State : Mississippi State University, 2009. http://library.msstate.edu/etd/show.asp?etd=etd-03302009-150029.

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Hammarling, Niclas, and Robert Gustavsson. "Boards in Family Firms : Board Member Choices and Recruitment." Thesis, Internationella Handelshögskolan, Högskolan i Jönköping, IHH, Företagsekonomi, 2014. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-23886.

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The focus of this paper is to explore the recruitment process for board members, and board member choices in family firms in Sweden. It was found that the board member re- cruitment process is a field with low amount of research. This is the main argument upon the construction of this study. Previous research also argue that most family businesses are small, which increase the likelihood of finding firms without an active board, or with low professionalism in the board. Through a case study, four Swedish family firms were interviewed in order to identify the board composition, board governance and board recruitment process at these firms. The firms represent different sizes, sectors, and stages of growth, being a small company with two employees and SEK 1.7m annual revenue, to a large company with 1200 employees and SEK 8bn annual revenue. These companies were then analysed through both the agency theory, and the stewardship theory, using previous research as foundation and sup- port. The findings show that the most desired board member characteristic are knowledge within the sector the firm is operating in, as well as trustworthiness. All of the interviewed com- panies saw their board as more of a function to advise the family, rather than to monitor the managers, and having extensive knowledge from the sector is of relevance when giving advice. The members of these boards were recruited using the networks of the CEO, or us- ing consultancy firms to help finding potential members. Lack of trust was identified as a potential issue in board member recruitment, as the member will gain access to valuable in- formation. This led to the obstacle of letting external members in on the board. This ob- stacle, however, is recommended to be overseen as all CEO’s that were interviewed em- phasized the benefits of recruiting external members to the board, arguing that the benefits of having external members in the board outweighs the potential costs.

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Ng, Sin Huei. "The influence of ownership, control, governance and diversification on the performance of family-controlled firms in Malaysia." Thesis, Northumbria University, 2012. http://nrl.northumbria.ac.uk/11058/.

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This study explores how a concentrated ownership structure and the underlying firm strategies/activities or practices influence the performance of family-controlled publicly-listed firms in Malaysia. Specifically, it aims to enhance our understanding of how differing types of significant owners, control-enhancing means, business groups and firm diversification affect firm performance within a national corporate governance system characterized by pervasive political involvement in business. It also aims to enhance out understanding of the role of board independence in moderating the above effects. the distinctiveness of this study arises from its approach of considering ownership structure and the underlying firm strategies/activities or practices in an integrated manner with particular emphasis on their inter-relationships. Multivariate with moderate regression analysis were utilized as primary tools of analysis. Based on a sample of 314 firms, major findings include (i) the proportion of family equity ownership positively influences corporate performance, (ii) group-affiliated firms generally under-perform non-group affiliated firms, (iii) the heterogeneity of business groups results in considerable differences in performance. Specifically, size of business group has a negative moderating effect on the firm diversification-performance relationship, (iv) profit redistribution occurs in firms that have a high level of family ownership and that are affiliated to large business groups, (v) board independence in general lacks effectiveness in moderating the influence of firm strategies or activities on firm performance. In terms of practical/managerial implications, the study demonstrates (i) the importance of conceptualising corporate governance in a broader sense, particularly in emerging economies such as Malaysia, (ii) how policymakers and regulators may identify and better monitor firms that are more likely to expropriate investors and/or exhibit governance problems, and (iii) a potentially fruitful approach to be adopted by investment professionals in selecting firms with better overall governance structures and performance that enhance their investment returns, particularly in the long term.

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Berg, Joseph, and Alexander Gyllenstierna. "Ägarnas värderingar ochbolagsstyrning i familjeföretag : En kvalitativ studie kring familjeföretagsägaresföretagsmässiga värderingar och hur det har implementeratsi bolagsstyrningen." Thesis, Högskolan i Skövde, Institutionen för handel och företagande, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:his:diva-20012.

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Bakgrund: Familjeföretag är en vanlig företagstyp både i Sverige och i världen och har vanligtvis bolagsformen aktiebolag. Definitionen av ett familjeföretag innebär att en majoritet av företaget ska ägas och kontrolleras av en familj som antingen grundat eller förvärvat företaget. Vidare ska även minst en familjemedlem vara verksam i företagsledningen. Familjeföretag ärvs vanligtvis inom familjen samtidigt som försäljning till utomstående också förekommer. I och med att andra ägare än grundarna driver företaget kan nya värderingar och preferenser ta plats i bolagsstyrningen än vad företaget grundades på. Problematiken är att få familjeföretag framgångsrikt drivs vidare efter ägarskiften. En möjlig orsak till det är förändrade representationer av värderingar och strategier, exempelvis kortsiktiga nyttor. Syfte: Rapporten syftar till att skapa en ökad förståelse för ägarnas främsta värderingar gällande sitt företagande och hur det har implementerats i bolagsstyrningen. Ägarna är valda från små och medelstora familjeföretag och har genomgått minst en form av ägarskifte. Rapporten fokuserar på de gemensamma dragen hos dessa ägare. Metod: Genom en kvalitativ metod har elva intervjuer med ägare och ledare i tio små och medelstora familjeföretag utförts. Sekundärdata har även samlats in genom företagens hemsidor och årsredovisningar. Gemensamma drag har sedan analyserats. Slutsats: Gemensamt bland studerade familjeföretagsägare värderas främst det långsiktiga ägandet och gärna genom deras barn. Vidare värderades det även att fortsätta vara en lokal aktör, öka lönsamheten och skapa tillväxt. Därför har långsiktiga investeringar gjorts och fokus har lagts på relationer till kunder, leverantörer och medarbetare. Flera ägare hade tillsatt externa individer som bland annat VD, styrelseordförande och styrelseledamöter i syfte att ta bättre beslut.
Background: Family business is a common type of business both in Sweden and worldwide and usually under the form of a limited company. The definition of a family business means that a majority of the business must be owned and controlled by a family that has either founded or acquired the business. Furthermore, at least one family member must also be active in the company's management. Family businesses are usually inherited within the family, while sales to outsiders also occur. As owners other than the founders run the company, new values and preferences can appear in corporate governance. The problem is that only a few family businesses are successfully run after the change of ownership. One possible reason for this problem is changed representations of values and strategies, such as short-term benefits. Aim: This report aims to create an increased understanding of the owners' main values regarding their business and how it has been implemented in corporate governance. The owners are selected from small and medium-sized family businesses, that have undergone at least one form of ownership change. The report focuses on the collective features of these owners. Method: Through a qualitative method, eleven interviews with owners and leaders in ten small and medium-sized family companies were conducted. Secondary data has was also collected through the companies' websites and annual reports. Collective features have then been analyzed. Conclusion: Collective values among studied family business owners are primarily long-term ownership and preferably through their children. Furthermore, it was also valued to continue to be a local player, increase profitability and create growth. Therefore, long-term investments have been made, and focus has been placed on relationships with customers, suppliers and employees. Several owners had appointed external individuals such as the CEO, Chairman of the Board and Board members to make better business-related decisions.

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Saltorato, Jefferson Lyra. "Governança corporativa em empresas com cultura familiar do setor cerâmico." Universidade Presbiteriana Mackenzie, 2015. http://tede.mackenzie.br/jspui/handle/tede/965.

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Although the theme of corporate governance is recent in the country and in the world, familycontrolled companies, medium and large companies, have adopted its mechanisms, especially the establishment of Boards of Directors or Advisory Councils, given the importance that the governance has taken on in academia and business. In this sense a study was conducted in ceramic companies in the industry of São Paulo, privately held, with the aim of identifying the conditions that drive these companies to implement modern corporate governance structures. Semi-structured interviews were used with questions divided into three groups of factors (assumptions), business, family and corporate. The results of the analysis identified the business factors as the main factor, which encourages firms to implement corporate governance structures, followed by family, and then societal factors. It was possible to identify factors such as professionalism and perpetuity main development indicators recently.
Embora o tema da governança corporativa seja recente no país e no mundo, empresas de controle familiar de médio e grande porte adotaram e vem adotando seus mecanismos, principalmente a implantação de Conselhos de Administração ou Consultivos, haja vista a importância que a governança vem assumindo no ambiente acadêmico e empresarial. Neste sentido foi realizado um estudo em empresas do setor cerâmico do estado de São Paulo, de capital fechado, com o objetivo de identificar as condições que as impulsionam a implantar suas modernas estruturas de governança corporativa. Foram utilizadas entrevistas semiestruturadas com questões divididas em três grupos de fatores (pressupostos), empresariais, familiares e societários. Os resultados das análises identificaram fatores empresariais como principal motivo que leva estas empresas a implementar estruturas de Governança Corporativa, seguido dos fatores familiares e então societários. Foi possível identificar fatores como o profissionalismo e perpetuidade como principais indicadores de evolução nos últimos tempos.

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Lai, Kuan-Chung, and 賴冠中. "Family-Controlled Businesses, Firm Performance, Corporate Governance and Dividend Policy." Thesis, 2017. http://ndltd.ncl.edu.tw/handle/c2x698.

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碩士
國立東華大學
會計與財務碩士學位學程
105
There are many agency problems between owners and manager or control shareholders and minority shareholders because most of companies in Taiwan are controlled by families and the ownership structure is concentrated. This study investigates the influence of family-controlled businesses, firm performance, corporate governance and dividend policy. The data was selected from 2008 to 2015 publicly traded Taiwan companies. Using ordinary least-squares method to measure the relativity. 　　The study result indicates that those companies with good firm performance will be more cash to pay more dividends. But family firms can provide better supervisory mechanisms or participate management directly, that family firms do not need to pay more dividends to solve agency problem. Almost family member relationship is closely and care about long-term development, that family members tend to rely highly on retained earnings for capital investment and development because of their reluctance to reduce control. Therefore, family-controlled firms will pay lower dividends than non-family firms. In addition, corporate governance result also indicates that conform with the outcome model which is La porta et al. (2000) build. The outcome model claims that the minority shareholders may use legal power to protect their equity and the payment of dividends is the result to effective governance where well governed firms pay dividend because such payments reduces the opportunity for expropriation from shareholders and shareholders successfully pressure managers to disgorge excess cash or free cash flow.

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47

Adendorff, Christian Michael. "The development of a cultural family business model of good governance for Greek family businesses in South Africa /." 2004. http://eprints.ru.ac.za/192/.

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48

Kuo, Yi-chen, and 郭逸真. "Corporate Governance and CEO Turnover in Taiwanese Family and Nonfamily Businesses." Thesis, 2006. http://ndltd.ncl.edu.tw/handle/7nx54w.

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博士
國立中央大學
企業管理研究所
94
Many businesses are family-controlled in Taiwan. The aggressive nature of entrepreneurship and strong cohesiveness of families are successful factors. Many aspects of familism also lead to the unique corporate governance in family businesses. This study tested the effectiveness of corporate governance by investigating the link between CEO turnover and corporate governance of family and nonfamily firms in Taiwan. This study investigated the tenure of CEOs in a sample of 304 listed companies in Taiwan; 63 firms were family controlled and 241 were not. The results show that CEO turnover is significantly lower in family firms and its relationship to corporate performance is negative. CEO ownership and board ownership are not significant in explaining the length of family CEO tenure. These findings imply that family boards can still effectively replace the CEO despite relatively low ownership. From the ownership structure perspective, this study suggested that the agency theory is applicable for nonfamily firms in Taiwan, but unsuitable for family firms.

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49

Yonggang, Bin. "Dual governance of chinese family businesses: case study of Bin Valley group." Doctoral thesis, 2016. http://hdl.handle.net/10071/12433.

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JEL: M10; D21
This thesis first reviews relevant theories on governance of family businesses and investigates the development of Chinese family businesses on the whole. It adopts the research method of single-case study and Bin Valley Group, a family business, is the case of this thesis. It systematically analyzes the conflicts between family system and corporate system, relational governance, contractual governance, dual governance model of Bin Valley Group during different phases. After all these analyses, it proposes that contractual governance and relational governance should be integrated differently during different phases and further concludes that pan-familism is the best for dual governance model. Also, it puts forward the corresponding research limitaions and prospects.
Esta tese investiga as teorias principais sobre governança de empresas familiares e aplica essas teorias ao desenvolvimento das empresas familiares na China. Nesta tese adotamos o método de estudo de caso único. O Grupo Bin Valley, o objeto de estudo desta tese, é analisado sobre o prisma das teorias da governança contratual e da governança relacional ao longo das fases da sua vida. Ao longo do desenvolvimento do Grupo Bin Valley assistimos a um conflito entre o sistema familiar e o sistema empresarial, assim como ao conflito entre a governança contratual e a governança relacional. Esta tese propõe que a governança contratual e a governança relacional devem ser adotadas de acordo com a etapa de desenvolvimento das empresas familiares e que a governança dualista exige o pan-familismo.

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50

Chang, Kai-Chuan, and 張凱筌. "Firm Performance, Corporate Governance and Executive Stock Compensation in Family-Controlled Businesses." Thesis, 2008. http://ndltd.ncl.edu.tw/handle/49eszv.

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碩士
國立東華大學
企業管理學系
96
The purposes of the study are to verify the impacts of performance and corporate governance mechanisms for executive stock compensation in family-controlled business in Taiwan. At the same time, the purposes of the study can make us understand executive compensation will be high when performance is not good or corporate governance mechanism can not enforce effectively. Owing to this concern, the study examines the relations of performance and corporate governance mechanisms for executive stock compensation in family-controlled business in Taiwan Besides, this study investigated the executive stock compensation in a sample of 474 listed companies which are family-controlled businesses in Taiwan in 2004 to 2006. Using Path analysis in LISREL to measure the relativity, summary statistics, etc. The conclusions of this study are as follows: 1. The better corporate performance the family-controlled businesses have, the executives can obtain higher amount of stock compensation. On the other hand, if the executives can make the performance be better, the board of director will adjust his stock compensation. 2. The more institutional investor control the family-controlled businesses have, the executives stock compensation will decrease. On the other hand, institutional investor can protect the stockholder’s right to avoid agency cost and high stock compensation which executives have.

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Dissertations / Theses on the topic 'Family businesses governance'

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