Contextual Factors THAT AFFECT Selection and Use of Governance Structures in Latin American Family Enterprises

Authored by: Isabel C. Botero , Gonzalo Gómez Betancourt

The Routledge Companion to Family Business

Print publication date:  September  2016
Online publication date:  September  2016

Print ISBN: 9781138919112
eBook ISBN: 9781315688053
Adobe ISBN: 9781317419990

10.4324/9781315688053.ch27

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Abstract

In its most general form, corporate governance describes “the study of power and influence over decision making within a corporation” (Aguilera and Jackson 2010: 487). For family enterprises 1 , the study of corporate governance encompasses the exploration of the different systems and structures that are put in place to help the family business and the business family make decisions regarding the direction of the business and to assure accountability and control in the relationships of the business, family and ownership of the firm (Gallo and Kenyon-Rouvinez 2006). Thus, decisions about governance are important because the success in this context is closely tied to the structures and processes that are in place to help the family and the business adapt to the environment and disruptions that occur (Miller and Le Breton-Miller 2006, Suess 2014).

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