Business
corporate governance in family business
Introduction
Corporate governance is an indispensable factor for the advancement of family-owned businesses. According to Pedersen & Partners (2015), globalization and rapid growth of commercial transactions resulted to several obstacles for family businesses. In fact, family-owned businesses have to keep up with the requirements of corporate governance to strengthen their foundation. These family-owned businesses learned that practicing good governance enables will allow them to create healthy business processes in preparation for their expansion in the future (Pedersen & Partners, 2015).
Recent studies conducted by Credit Suisse showed that modern day family businesses had been successful in ...