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When family firm corporate governance fails: the case of El Corte Inglés

When family firm corporate governance fails: the case of El Corte Inglés PurposeThe purpose of this paper is to describe internal corporate governance mechanisms in family firms as well as conflicts that may arise among shareholders and family members in the absence of specific corporate governance mechanisms.Design/methodology/approachAfter presenting theoretical concepts, the authors study the case of Spanish family firm El Corte Inglés to understand some of the corporate governance difficulties the company has experienced over the past few years.FindingsThis case illustrates how corporate governance problems can arise because the right mechanisms have not been used, leading to conflicts among family members, valuation problems and power struggles.Practical implicationsThere is a need for family firms to employ suitable corporate governance mechanisms as governance complexity increases.Originality/valueThis study aims to contribute to the understanding of corporate governance problems among family members and their possible solutions. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Family Business Management Emerald Publishing

When family firm corporate governance fails: the case of El Corte Inglés

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References (54)

Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
2043-6238
DOI
10.1108/JFBM-02-2019-0010
Publisher site
See Article on Publisher Site

Abstract

PurposeThe purpose of this paper is to describe internal corporate governance mechanisms in family firms as well as conflicts that may arise among shareholders and family members in the absence of specific corporate governance mechanisms.Design/methodology/approachAfter presenting theoretical concepts, the authors study the case of Spanish family firm El Corte Inglés to understand some of the corporate governance difficulties the company has experienced over the past few years.FindingsThis case illustrates how corporate governance problems can arise because the right mechanisms have not been used, leading to conflicts among family members, valuation problems and power struggles.Practical implicationsThere is a need for family firms to employ suitable corporate governance mechanisms as governance complexity increases.Originality/valueThis study aims to contribute to the understanding of corporate governance problems among family members and their possible solutions.

Journal

Journal of Family Business ManagementEmerald Publishing

Published: Nov 4, 2019

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