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Governance in small firms - a country comparison of current practices

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  • Susanne Durst
  • Thomas Henschel

Abstract

This study investigates the practice of governance in small firms and shows differences between these firms in the principality of Liechtenstein and Scotland. Thereby, the study's intention is to draw particular attention to the influence of corporate governance on the firm's ability to change. Thus a broader scope of corporate governance, which is normally discussed from a control perspective, is taken. Using data from semi-structured interviews with 20 managing directors of small firms, the findings showed that they see corporate governance more as a concept for managing the internal and external relationships with the various stakeholders than as a control concept. The study provides fresh insights into the practice of governance in small firms and offers the opportunity to expand our understanding of the topic in different parts of the world. Moreover, by taking a qualitative research approach, the study addresses recent calls concerning more methodological diversity.

Suggested Citation

  • Susanne Durst & Thomas Henschel, 2014. "Governance in small firms - a country comparison of current practices," International Journal of Entrepreneurship and Small Business, Inderscience Enterprises Ltd, vol. 21(1), pages 16-32.
    • Handle: RePEc:ids:ijesbu:v:21:y:2014:i:1:p:16-32
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    Cited by:

    1. Oliver Lukason & María-del-Mar Camacho-Miñano, 2020. "Corporate Governance Characteristics of Private SMEs’ Annual Report Submission Violations," JRFM, MDPI, vol. 13(10), pages 1-19, September.

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