Abstract

RODRIGUES, Jorge. Board of Directors in family firms. Rev. Portuguesa e Brasileira de Gestão [online]. 2008, vol.7, n.1, pp.56-67. ISSN 1645-4464.

Family firms can be seen as a set of sub-systems - business, family, ownership - and when we talk about companies, we also have the Board of Directors. This one has to define the corporate strategy and its implementation, the nomination of directors, the payment of stockholders, and to ratify and revise t he business plan, in order to the observance of the law and the statutes. Based on a sample of six companies related with construction and public works in Portugal, which are identified as family firms, we characterized the Board of Directors. This is one-tier board model on average with 7.3 elements. The labour market for directors is almost non-existent. Their recruitment is done among the firms’ senior managers. Most of them are men and they are the family’s second generation.

Keywords : Family Firms; Board of Directors; Corporate Governance.

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