Fernández-Ortiz, R. Rodríguez Osés, J. E. Ruiz-Olalla Corcuera, M. C.
Year of Publication:
[Journal:] Investigaciones Europeas de Dirección y Economía de la Empresa (IEDEE) [ISSN:] 1135-2523 [Volume:] 13 [Year:] 2007 [Issue:] 1 [Pages:] 117-129
The characteristics of the Board of Directors, its running and composition reflect, for most family firms, their structure of power, experience, interests and culture. The presence of outsiders in the board does not necessarily imply a loss of power by the family, as this will impair the transfer of the culture and values of the firm, the vision of the family and its strategic implementation. This work includes a series of recommendations on the most adequate way to integrate outsiders in family firms depending on the combination of ownership distribution and kind of management.