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- Title
Why Privately Held and Family-Owned Businesses Should Have Independent Boards of Directors.
- Authors
KAMPEL, CARL
- Abstract
The author looks at governance of family-owned and privately held businesses, presenting a case for having an independent board of directors even though it is not legally required. He discusses several benefits independent directors can confer, including providing accountability and guidance to the business's chief executive, serving as an unbiased forum for resolving disputes, and creating credibility for the business in the eyes of stakeholders such as lenders and investors.
- Subjects
CLOSE corporations; FAMILY-owned business enterprises; BOARDS of directors; OUTSIDE directors of corporations; TRAINING of executives; CONFLICT management
- Publication
Financial Executive, 2012, Vol 28, Issue 9, p18
- ISSN
0895-4186
- Publication type
Article