TY - JOUR
T1 - Blending traditionalism with legalism
T2 - a typology of understanding corporate governance systems in Ghanaian Family-owned businesses (FOBs) from a Bourdieusian perspective
AU - Agyenim-Boateng, Cletus
AU - Iddrisu, Sulemana
AU - Otieku, James
N1 - Publisher Copyright:
© 2022, Emerald Publishing Limited.
PY - 2023/11/14
Y1 - 2023/11/14
N2 - Purpose: This paper aims to examine the nature of corporate governance systems in Ghanaian Family-owned Businesses (FOBs). Specifically, the study investigates the nature of boardroom decisions structures, sources of governance regulations and family roles in corporate governance. Design/methodology/approach: Drawing on Bourdieusian perspectives of the field, capital, habitus and doxa, a case study design is used to gather detailed insights about the phenomena. Purposively, the study conducts 20 interviews with participants from 15 FOBs in Ghana. The interview data are complemented with secondary sources, such as FOB handbooks, website information, legal documents and scriptures. Subsequently, data gathered were thematically analysed. Findings: The study finds that human actors blended traditionally tacit and legally expressed boardroom decisions structures in FOBs governance. Again, traditional values, social acceptance of religious sociology and regulatory frameworks of the field dictate corporate governance practices in FOBs. In multiple family ownerships, orthodoxy of doxa is challenged; hence, power struggles and family roles in governance depend on capital possessed by social actors. Practical implications: To continue as a going concern, FOBs must be mindful of traditional, religious sociology of family and regulatory frameworks within the field in which they operate. This is because, without this, the going concern of FOBs becomes suspicious and highly unlikely, especially where there are multiple family ownership and generations. Originality/value: The previous literature predominantly focussed on formal boardroom structures in addressing FOBs' corporate governance issues. Notwithstanding, family governance risk of domineering and distrust associated with traditional and relational governance mechanisms remain under-represented and inconclusive, especially in Sub-Saharan Africa.
AB - Purpose: This paper aims to examine the nature of corporate governance systems in Ghanaian Family-owned Businesses (FOBs). Specifically, the study investigates the nature of boardroom decisions structures, sources of governance regulations and family roles in corporate governance. Design/methodology/approach: Drawing on Bourdieusian perspectives of the field, capital, habitus and doxa, a case study design is used to gather detailed insights about the phenomena. Purposively, the study conducts 20 interviews with participants from 15 FOBs in Ghana. The interview data are complemented with secondary sources, such as FOB handbooks, website information, legal documents and scriptures. Subsequently, data gathered were thematically analysed. Findings: The study finds that human actors blended traditionally tacit and legally expressed boardroom decisions structures in FOBs governance. Again, traditional values, social acceptance of religious sociology and regulatory frameworks of the field dictate corporate governance practices in FOBs. In multiple family ownerships, orthodoxy of doxa is challenged; hence, power struggles and family roles in governance depend on capital possessed by social actors. Practical implications: To continue as a going concern, FOBs must be mindful of traditional, religious sociology of family and regulatory frameworks within the field in which they operate. This is because, without this, the going concern of FOBs becomes suspicious and highly unlikely, especially where there are multiple family ownership and generations. Originality/value: The previous literature predominantly focussed on formal boardroom structures in addressing FOBs' corporate governance issues. Notwithstanding, family governance risk of domineering and distrust associated with traditional and relational governance mechanisms remain under-represented and inconclusive, especially in Sub-Saharan Africa.
KW - Board structure
KW - Doxa
KW - Ghanaian FOBs
KW - Governance structure
KW - Governance structures
UR - http://www.scopus.com/inward/record.url?scp=85138109332&partnerID=8YFLogxK
U2 - 10.1108/JFBM-07-2022-0096
DO - 10.1108/JFBM-07-2022-0096
M3 - Article
AN - SCOPUS:85138109332
SN - 2043-6238
VL - 13
SP - 990
EP - 1007
JO - Journal of Family Business Management
JF - Journal of Family Business Management
IS - 4
ER -