Family governance structures in family businesses: A systematic literature review and future research agenda

• 
  By Vinod Thakur
  Assistant Professor

  Co-Authors
  Prof. Sabyasachi Sinha, Associate Professor Of Strategy And Entrepreneurship, Indian Institute Of Management, Lucknow
  

  Journal : Journal of Small Business Management
  Publisher : Taylor & Francis

Article citation: Thakur, V., & Sinha, S. (2023). Family governance structures in family businesses: A systematic literature review and future research agenda. Journal of Small Business Management, 1-37.

Abstract
Family governance as a research field has recently attracted scholarly attention. The article aims to contribute to family business literature by consolidating the extant research on family governance. Our systematic literature review comprises 52 articles on family governance in 24 peer-reviewed journals between 1993 and 2023. The findings reveal family complexity as one of the preeminent reasons to adopt family governance structures. The study further identifies that the adoption of family governance structures by family businesses results in family and business-related transformation and leads to various economic and non-economic benefits. Finally, we suggest potential avenues for conducting future research.