@article{771290a9671444f681e8500d99a64ad1,
title = "Bringing owners back on board: A review of the role of ownership type in board governance",
abstract = "Research Question/Issue: In this comprehensive literature review, we synthesize and analyze the current state of academic research regarding the relatively understudied relationship between the type of owners and board governance. Research Findings/Insights: Our review of the existing literature at the intersection of ownership and board governance research discusses how six distinct ownership types—pertaining to family, lone founder, corporation, institutional investor, state, and venture capitalist—shape board governance, defined as board structure, composition, and processes. We also uncover the influence of ownership type on board functional performance (i.e., monitoring, resource provision, and strategic involvement) and the implications of these owner–board relationships for a variety of firm outcomes (related to performance and compliance). Theoretical/Academic Implications: We present identifiable patterns in board governance and functional performance associated with each ownership type and their respective implications for a wide range of firm outcomes. We then propose seven core emerging themes that deserve further scholarly attention. Practitioner/Policy Implications: Our analysis cautions against the application of the “one-size-fits-all” best-practices approach in board governance advocated by policy makers, scholars, and corporate governance activists and underscores the need to consider the contingent effects of different owners' behaviors and interests in shaping and assessing board governance.",
keywords = "Corporate governance, board of directors, literature review, ownership",
author = "Ryan Federo and Yuliya Ponomareva and \{Aguilera Vaqu{\'e}s\}, R. and \{Saz Carranza\}, A. and \{Losada Marrod{\'a}n\}, C.",
note = "Funding Information: We thank the Editor Till Talaulicar and the four anonymous reviewers for their comments and suggestions. We are also grateful to Sven‐Olof Collin and Timur Uman for their helpful advice in the development of this work. This article is a research project of the ESADE Center for Corporate Governance, funded by PwC Espa{\~n}a and the Catalan Government Grant 2017 SGR 1556 GLIGP. Yuliya Ponomareva also acknowledges the financial support provided by the Spanish Ministry of Economy, Industry and Competitiveness R\&D Project ECO2017‐86305‐C4‐2‐R. 1 Funding Information: We thank the Editor Till Talaulicar and the four anonymous reviewers for their comments and suggestions. We are also grateful to Sven-Olof Collin and Timur Uman for their helpful advice in the development of this work. This article is a research project of the ESADE Center for Corporate Governance, funded by PwC Espa?a and the Catalan Government Grant 2017 SGR 1556 GLIGP. Yuliya Ponomareva also acknowledges the financial support provided by the Spanish Ministry of Economy, Industry and Competitiveness R\&D Project ECO2017-86305-C4-2-R. Funding Information: Spanish Ministry of Economy, Industry and Competitiveness, Grant/Award Number: ECO2017‐86305‐C4‐2‐R; Catalan Government, Grant/Award Number: 2017 SGR 1556 GLIGP; PwC Espa{\~n}a Funding information Publisher Copyright: {\textcopyright} 2020 John Wiley \& Sons Ltd",
year = "2020",
month = nov,
doi = "10.1111/corg.12346",
language = "English",
volume = "28",
pages = "348--371",
journal = "Corporate Governance: An International Review",
issn = "0964-8410",
publisher = "Emerald Group Publishing Ltd.",
number = "6",
}