Ownership is usually a system assumed implicit in the dynamics of management of enterprises, but it actually deserves more attention than a periodic control in the yearly general shareholder's assembly. Empowerment of owners is required given the magnitude of decisions they make in terms of capital and business purpose, and not just delegate it to the Board or the CEO. Despite the relevance of the topic, there is a gap in the literature of corporate governance in family business from the ownership dimension. This longitudinal study uses a quantitative approach with an explanatory scope that pretends 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, using data from National Registry of Values and Issuers, which also responded the country Code survey of Colombia in the period 2008-2014. Data was processed with student's t test and Random Effects analysis that is a panel data technique. Results shown that family and non-family businesses have significant differences in ownership governance practices, but no significant relationship were identified between corporate governance practices of shareholders or family control with financial performance.
Este trabajo aborda la relación entre el funcionamiento de la junta directiva (JD) y el desempeño organizacional desde un análisis de percepciones. El objetivo es determinar si existe relación entre la percepción del funcionamiento de la JD y la percepción de la influencia de la JD en el desempeño organizacional (desempeño económico, clima organizacional y unidad familiar). Para esto, se aplicaron modelos de regresión logística en una muestra de 123 miembros de junta directiva en empresas familiares. Se encontró que la percepción del funcionamiento de la JD está relacionada con la percepción de la influencia de la JD en el desempeño económico, la unidad familiar y el clima organizacional. This paper addresses the relationship between the functioning of the board of directors and organizational performance from an analysis of perceptions. The objective is to determine if there is a relationship between the perception of the operation of the board of directors and the perception of the influence of the board on organizational performance (economic performance, family unit and work environment). For this, logistic regression models are applied in a sample of 123 members of the board of directors in family businesses. The perception of the functioning of the board of directors has been related to the perception of the influence of the board of directors on economic performance, the family unit and the work environment.
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