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Boards and governance in small businesses: an integrated view on value creating board tasks

Gabrielsson, Jonas LU and Politis, Diamanto LU (2003)
Abstract
This paper defines and discusses corporate governance, boards of directors and value creation in the setting of small businesses. Corporate governance is defined as the relationship between internal stakeholders, the external stakeholders and the board of directors in determining the direction and performance of an enterprise. The board of directors, placed between the internal and external stakeholders of the organization, is identified as having a potential key role in value creation and contributing to the performance of small businesses. To identify value-creating board tasks four main theories in the field of corporate governance are reviewed. Sprung from diverse disciplines and academic traditions, the theories prescribe different... (More)
This paper defines and discusses corporate governance, boards of directors and value creation in the setting of small businesses. Corporate governance is defined as the relationship between internal stakeholders, the external stakeholders and the board of directors in determining the direction and performance of an enterprise. The board of directors, placed between the internal and external stakeholders of the organization, is identified as having a potential key role in value creation and contributing to the performance of small businesses. To identify value-creating board tasks four main theories in the field of corporate governance are reviewed. Sprung from diverse disciplines and academic traditions, the theories prescribe different ways in which boards create value - but the prescriptions are shown to be complementary rather than contradictory. The paper then integrates these theories, and links different board tasks to value creating activities in small businesses, such as the creation and identification of opportunities and the mobilizing of resources to pursuit these opportunities. The paper ends with a summary and conclusion, and presents some implications for research and practice. (Less)
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organization
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Contribution to conference
publication status
unpublished
subject
language
English
LU publication?
yes
id
c3fc6c0d-8de6-4533-b802-bccfad358f1f (old id 942057)
alternative location
http://meetings.aomonline.org/2003/home.htm
date added to LUP
2009-06-29 12:57:47
date last changed
2016-04-16 11:17:10
@misc{c3fc6c0d-8de6-4533-b802-bccfad358f1f,
  abstract     = {This paper defines and discusses corporate governance, boards of directors and value creation in the setting of small businesses. Corporate governance is defined as the relationship between internal stakeholders, the external stakeholders and the board of directors in determining the direction and performance of an enterprise. The board of directors, placed between the internal and external stakeholders of the organization, is identified as having a potential key role in value creation and contributing to the performance of small businesses. To identify value-creating board tasks four main theories in the field of corporate governance are reviewed. Sprung from diverse disciplines and academic traditions, the theories prescribe different ways in which boards create value - but the prescriptions are shown to be complementary rather than contradictory. The paper then integrates these theories, and links different board tasks to value creating activities in small businesses, such as the creation and identification of opportunities and the mobilizing of resources to pursuit these opportunities. The paper ends with a summary and conclusion, and presents some implications for research and practice.},
  author       = {Gabrielsson, Jonas and Politis, Diamanto},
  language     = {eng},
  title        = {Boards and governance in small businesses: an integrated view on value creating board tasks},
  year         = {2003},
}