TY  - JOUR
U1  - Wissenschaftlicher Artikel
A1  - Baumann, Michael
A1  - Stubner, Stephan
T1  - Self-control through board control
BT  - formalized governance in controlling owner family businesses
JF  - Corporate ownership and control
N2  - Our study examines the role of board control tasks in mitigating self-control problems in controlling owner family businesses. We challenge the common perception that controlling owners do not require and use board control because of the concentration of ownership and management in a single individual. We argue that self-control problems, that is agency problems with oneself, have often been overlooked by existing studies on the relevance of control tasks. By using a multiple case study design, we demonstrate that controlling owners frequently use board control as a self-governing mechanism and develop several propositions on favorable board processes and compositions. Rather than independence, we propose that controlling owners should select their board members based on trust and expertise. Moreover, we propose that probing and challenging behavior by board members in combination with the controlling owner’s willingness to prepare in a formalized manner support the reduction of self-control problems.
KW  - Family business
KW  - Board of directors
KW  - Small and medium-sized
KW  - Agency costs
KW  - Self-control problems
Y1  - 2017
SN  - 1727-9232
SS  - 1727-9232
U6  - https://doi.org/10.22495/cocv14i2art12
DO  - https://doi.org/10.22495/cocv14i2art12
VL  - 14
IS  - 2
SP  - 123
EP  - 136
ER  -