Table of Contents

Handbook of Research on Family Business, Second Edition

Handbook of Research on Family Business, Second Edition

Elgar original reference

Edited by Kosmas X. Smyrnios, Panikkos Z. Poutziouris and Sanjay Goel

During the previous decade, the multi-disciplinary field of family business has advanced significantly in terms of advances in theory, development of sophisticated empirical instruments, systematic measurement of family business activity, use of alternative research methodologies and deployment of robust tools of analysis. This second edition of the Handbook of Research on Family Business presents important research and conceptual developments across a broad range of topics. The contributors – notable researchers in the field – explore the frontiers of knowledge in family business entrepreneurship and stimulate critical thinking, enriching the repository of theoretical frameworks and methodologies.

Chapter 5: Board of directors and generational effect in Spanish non-listed family firms

Blanca Arosa, Txomin Iturralde and Amaia Maseda

Subjects: business and management, family business, strategic management


Corporate governance is one of the topics receiving increased attention in the management research area. Despite the increasing attention of management scholars to corporate governance and boards of directors, empirical evidence on the relationship between board composition and corporate financial performance on the other hand is still equivocal (Minichilli et al., 2009). The number of papers studying board composition is very large. Researchers have analysed the effect of board size (Eisenberg et al., 1998; Fernández et al., 1997; Huther, 1997; Yermack, 1996), board composition (Baysinger and Butler, 1985; Fiegener et al., 2000; Hermalin and Weisbach, 2003; Voordeckers et al., 2007; Jaskiewicz and Klein, 2007; Bammens et al., 2008; Sacristán-Navarro and Gómez-Ansón, 2009; Arosa et al., 2010) on corporate performance, the distinction between inside and outside boards (Finkelstein and Hambrick, 1996; Johnson et al., 1996), but despite numerous studies, the relationship between board characteristics and corporate performance remains unclear (Oxelheim and Randoy, 2003; Anderson and Reeb, 2004).

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