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Advances in Corporate GovernanceComparative Perspectives$
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Helmut K. Anheier and Theodor Baums

Print publication date: 2020

Print ISBN-13: 9780198866367

Published to Oxford Scholarship Online: November 2020

DOI: 10.1093/oso/9780198866367.001.0001

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Corporate Governance in Small and Medium Enterprises

Corporate Governance in Small and Medium Enterprises

(p.82) 5 Corporate Governance in Small and Medium Enterprises
Advances in Corporate Governance

Jonas Gabrielsson

Morten Huse

Carl Åberg

Oxford University Press

The objective of this chapter is to discuss corporate governance in relation to small and medium size enterprises (SMEs). We examine the regulatory environment by reviewing corporate governance codes developed for SMEs as well as literature and research on corporate governance in SMEs. From this stance, we discuss the specificities of SMEs, including the multiple ideologies that often co-exist in these firms. Finally, the extended team production model of corporate governance is introduced. The model offers a balanced perspective on the full range of value-adding stakeholders in SMEs, and provides a set of guiding principles to improve the value creation potential of their corporate governance arrangements.

Keywords:   corporate governance codes, ideologies, SMEs, stakeholders, team production model, value creation

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