Family governance: understanding the relationship between informal family meetings, formal governance practices and family-centered non-economic goals
研究了家族企业中的非正式家族会议如何通过正式治理实践影响以家族为中心的非经济目标，基于490家家族企业的数据分析发现，非正式会议的效果完全由正式治理实践中介。
Purpose Stemming from family and business governance arguments, this paper contends that informal family meetings are the baseline “informal governance mechanism” that shapes family-centered non-economic goals. However, it is foreseen that informal family meetings are most effective when family businesses implement formal family governance practices. Design/methodology/approach Hypotheses are tested on a sample of 490 family firms using robust ordinary least square estimations. Findings The main findings suggest that informal family meetings are positively associated with family-centered non-economic goals and this relationship is fully mediated by the presence of formal family governance practices. Originality/value The use of new system theory for developing the hypotheses allows the study to contribute with a more comprehensive understanding of the social systems in family firms, and how interactions between the family logic and the business logic relate.