Key Elements of a Governance Structure in a Family Business: The Board of Directors

  • Fred Neubauer
  • Alden G. Lank


In Chapter 3 we indicated that boards typically hold a central position in the corporate governance arena. They indeed represent one of the key elements in a corporate constitution. This is true for family-controlled enterprises as well as for publicly held companies. Because of this pivotal significance, it is necessary to discuss in some depth their specific role, their composition, their working style and the particular problems they may face in family businesses.


Corporate Governance Board Member Family Firm Family Business Advisory Board 
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    A. Cadbury, The role of directors in family firms, The Director’s Manual, Hemel Hempstead: Director Books in association with the Institute of Directors, 1993, ch. D3, p. 12.Google Scholar
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    G. Corbetta and S. Tomaselli, ‘Boards of Directors in Italian Family Businesses’, Family Business Review, vol. 9, no. 4 (1996), p. 414.CrossRefGoogle Scholar

Copyright information

© Fred Neubauer and Alden G. Lank 1998

Authors and Affiliations

  • Fred Neubauer
  • Alden G. Lank

There are no affiliations available

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