Corporate governance practices in smaller privately held businesses – insights from the Rhine Valley region
2017 (English)In: Handbook of Research on Corporate Governance and Entrepreneurship / [ed] Jonas Gabrielsson, Edward Elgar Publishing, 2017Chapter in book (Refereed)
The study of corporate governance is dominated by quantitative research and tends to focus on large listed companies businesses. As a response to this situation, this chapter examines how corporate governance is practiced in smaller businesses. It reports findings based on semi-structured interviews conducted with executive staff of smaller privately held firms from the Rhine Valley region. More precisely parts of both Austria (Province of Vorarlberg) and the Principality of Liechtenstein were covered. In total, twenty-five individuals were involved. The findings particularly emphasize the concept of relational governance as a more appropriate governance approach in small firms. Thereby the chapter suggests that the relational governance approach needs to be extended by considering employees and their contribution to governance practices and company development as well. The chapter´s findings may help managing directors of smaller firms to better understand and exploit the benefits of different governance mechanisms in their efforts to cope with different business challenges ahead. The findings may also be used by policy makers helping them to develop improved corporate governance codes and best practice recommendations. To sum up, the chapter provides fresh insights into the practice of governance in smaller firms taken from a practitioner’s perspective. Additionally, it offers the opportunity of expanding our understanding of the topic in different parts of the world.
Place, publisher, year, edition, pages
Edward Elgar Publishing, 2017.
Corporate governance, governance practices, small firms, small and medium-sized enterprises, relational governance, governance by networking
Research subject Humanities and Social sciences
IdentifiersURN: urn:nbn:se:his:diva-13137ISBN: 978-1-78254-555-2 (print)ISBN: 978-1-78254-556-9 (electronic)OAI: oai:DiVA.org:his-13137DiVA: diva2:1049649