They Are Not All the Same! Investigating the Effect of Executive versus Non‐executive Family Board Members on Firm Performance
研究挑战了家族董事会成员是同质群体的假设，发现执行与非执行家族成员间的断层线会影响企业绩效，且这种影响取决于企业是否达成目标。
Drawing on faultlines and challenging the assumption that family board members form a homogenous subgroup, we hypothesize that the distinction between executive and non‐executive family board members can create faultlines that affect firm performance. We propose that the discrepancy between results and goals can activate and exacerbate faultlines. Using a sample of 421 family small and medium‐sized enterprises (SMEs), we find a U‐shaped relationship between the ratio of family executive board members and firm performance showing the consequences of relationship‐based and task‐related faultlines. Moreover, we find that the U‐shaped relationship occurs when firms perceive that they under‐achieve their objectives, whereas a reverse J‐shaped relationship appears when firms over‐achieve their objectives.