Abstract
Employing a synthesis model, this chapter examines the relationship between board structure and board processes within family firms. By reviewing the family firm governance literature from the past 20 years, we apply the Ilgen et al. (Annu Rev Psychol 56:517–543, 2005) input-mediator-output-input framework to identify heterogeneous family processes which ultimately impact the forming, functioning, and finishing stages of boards of directors in family firms. In doing so, we help to answer questions of why family firm boards are effective rather than what predicts board effectiveness, as well as provide guidance for future research.
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