دانلود رایگان مقاله عملکرد نقش هیئت مدیره و faultlines در شرکت های خانوادگی

ABSTRACT

Recent research on the actual behaviour of boards suggests that more attention should be given to group dynamics in boards of directors. Therefore, we investigate if faultlines are detrimental to the role performance of boards of directors in family firms. In contrast to previous studies that only focus on one attribute, we use a more encompassing measure of faultlines, which is based on three attributes simultaneously (family-membership, type of directorship, and gender). Furthermore, we investigate the moderating role of formal board evaluation. Findings suggest a negative relationship between faultlines and both board control and service role performance. Interestingly, our study indicates thatin boards that use formal evaluations, the negative effect of faultlines on control role performance is reversed. We discuss implications for faultline theory and research on boards of directors.

4. Analysis and results

In this study, we applied a hierarchical regression model to test our hypotheses. In the extended models which included the moderating variable, the independent variable highly correlated with the interaction term. Therefore, these variables were meancentred (Aiken & West, 1991; Cohen, Cohen, West, & Aiken, 2003). We computed variance inflation factors (VIF) to assess whether there was a multicollinearity problem in our sample. Since all values were lower than 4.95, there was no problem of multicollinearity in our analyses (Kennedy, 2008). To test for heteroscedasticity, we performed a White’s general test and a CookWeisberg test. Both indicated there were no problems concerning heteroscedasticity. Table 2 provides means, standard deviations, and correlations of variables. On average, firms have 63 employees. Furthermore, the independent director ratio is relatively low (10%) and the average board size is 4.50 members, which is comparable to other studies conducted in the context of family firm boards (Basco & Voordeckers, 2015; Collin & Ahlberg, 2012; Zattoni et al., 2015). The average faultline strength included in our sample is 0.05 and the maximum faultline strength measured is 0.22. According to Shaw (2004), these numbers indicate that the average faultline strength is rather weak, but that rather strong faultlines are also present in the upper quartile, showing a wide variance of faultline strengths in our sample.3 Furthermore, our average faultline strength is comparable with other studies that calculate faultline strength using Shaw’s method, as these average values range from 0.03 to 0.14 (e.g., Choi & Sy, 2010; Meyer & Glenz, 2013).