Governance in small firms - a country comparison of current practices

Durst, Susanne; Henschel, Thomas

doi:10.1504/ijesb.2014.057913

Cited by 7 publications

(5 citation statements)

References 42 publications

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“…The mean ranks of U Mann-Whitney test indicate that the German SMEs were distinguished by a higher corporate governance score, in comparison to Polish SMEs. The constituents of the corporate governance score clearly indicate that this is driven primarily by succession plans (CG.succ) and qualification and competences of the management team (CG.dcr) which is in line with the findings from the international literature (Crossan and Henschel 2012;Crossan et al 2018;Durst and Henschel 2014). For these constituents the differences between German and Polish SMEs are statistically significant at 0.1%.…”

Section: Exploration Of Similarities and Differences Between Germany ...supporting

confidence: 85%

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The Role of ERM and Corporate Governance in Managing COVID-19 Impacts: SMEs Perspective

Wieczorek-Kosmala

Henschel

2022

JRFM

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SMEs are perceived as more exposed to the consequences of external shocks. The purpose of our work is to examine whether the ERM sophistication or corporate governance mechanisms could be relevant in resistance to COVID-19 shock in the SMEs. In particular, we hypothesize that the SMEs with greater degree of ERM sophistication and stronger CG mechanisms will have a clearer understanding about the severity of the impacts from COVID-19. Our empirical evidence is based on the results of a survey conducted within a large sample of SMEs operating in Poland and in Germany within different experimental settings. We have found that the ERM and CG sophistication influence the perception of COVID-19 interruptions and will alert companies to adjust their business strategy and organizational structure to better cope with effects of the current crisis. The proposed framework can also be a valuable tool for consultants to use to enhance the ERM systems in SMEs.

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Section: Exploration Of Similarities and Differences Between Germany ...supporting

confidence: 85%

“…These questions are presented in detail in Table 3. The first set of questions outlined in Table 3 is concerned with the SMEs' strategic thinking process and its succession regulations (Durst and Henschel 2014). The corporate governance strategic thinking is covered with two questions that refer to long-term and thus strategic thinking.…”

Section: Cimmmentioning

confidence: 99%

The Role of ERM and Corporate Governance in Managing COVID-19 Impacts: SMEs Perspective

Wieczorek-Kosmala

Henschel

2022

JRFM

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“…In the resolution stage, nearly all firms were engaged in innovating their technical infrastructure. The innovating activities cover things such as the implementation of a knowledge management system, improvements in the management and cost accounting system, introducing formal project management, and the implementation of new enterprise resource planning systems and better governance and oversight structures (Durst and Henschel, 2014). It was also interesting to note that SCO2, GER2 and SWE2 see a high need for developing and testing their crisis management plans based on the experienced crisis events and measures taken.…”

Section: Discussionmentioning

confidence: 99%

The role of entrepreneurial orientation in crisis management: evidence from family firms in enterprising communities

Boers

Henschel

2021

JEC

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Purpose The purpose of this paper is to explore and understand how family firms manage a crisis by applying a processual and longitudinal perspective. The objective is to find out how crisis management is approached by family firms in Sweden, Scotland and Germany, using entrepreneurial orientation (EO) as an analytical lens. Further, this paper investigates the role of the owning family in creating and solving a crisis in family firms. Design/methodology/approach This study follows a processual and longitudinal case study approach. Cases are drawn from Germany, Scotland and Sweden. Data collection is based on a combination of interviews with archival data such as annual reports and press clippings. Findings The results show that all studied firms had high levels of autonomy combined with high risk-taking. It is noteworthy, that these dimensions also help to overcome the crisis. Risk-taking and proactiveness can be useful for addressing the crisis. Under certain circumstances, even innovativeness can help to develop new offers. Autonomy is considered central in family firms and only extraordinary circumstances can be owning families make willing to compromise on it. The EO-dimensions are not all relevant at all times. Rather, family firms will emphasize the dimensions during the consecutive stages differently. Originality/value This study compares case companies from Germany, Scotland and Sweden and how EO contributes to their crisis management by taking a longitudinal and processual perspective. Its originality lies in the in-depth studies of companies from three countries.

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“…Wells and Mueller (2014) find that employees are not seen as a source of missing and needed skills and characteristics for governance, but that independence is essential for directors to provide sufficient monitoring and assist with changing and volatile responsibilities and environments. Durst and Henschel (2014), however, find that some SMEs rely heavily on their employees for strategic opinions.…”

Section: Evidence Of Alternative Governance In the Broader Literaturementioning

confidence: 99%

SME corporate governance: a literature review of informal mechanisms for governance

Handley

Molloy

2022

MEDAR

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Purpose This paper takes a structured literature review (SLR) approach to identify gaps in the literature and suggest future research opportunities. It focuses on corporate governance (CG) performed outside the formal board of directors’ structure and examines research of alternative CG of small and medium-sized entities (SMEs). Design/methodology/approach The authors use the SLR method to search the Scopus database, extracting and synthesising findings relating specifically to SMEs’ CG. These are tabulated and described using bibliometric software. Findings The authors highlight an absence of tailored theoretical approaches to understanding CG in SMEs, which differs from the governance of larger entities. They also find evidence of alternative governance structures in SME CG. Research limitations/implications Further research should embrace management and other theoretical perspectives and expanded methodologies, nuances in understanding offered in contextualised settings and awareness of practical implications to better understand the specific setting of CG in SMEs. Practical implications SMEs seek to access the scarce resources and skills external to their formal CG structures. Regulators and resource providers should mobilise facilitation and training for this expansion. Originality/value The authors synthesise a large body of literature to extract findings specific to SMEs. A unique contribution is our focus on alternative forms of CG in SMEs. Evidence of alternative boards points to resolutions for human capital shortages in SMEs.

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Governance in small firms - a country comparison of current practices

Cited by 7 publications

References 42 publications

The Role of ERM and Corporate Governance in Managing COVID-19 Impacts: SMEs Perspective

The Role of ERM and Corporate Governance in Managing COVID-19 Impacts: SMEs Perspective

The role of entrepreneurial orientation in crisis management: evidence from family firms in enterprising communities

SME corporate governance: a literature review of informal mechanisms for governance

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