COVID-19: Understanding the Board’s Key Role During a Crisis

Mental Health in Family Businesses and Business Families: A Systematic Review

“…This gap in literature is a surprise, as yet in 2007 FB scholars explained the need for an open-systems approach as conceptual model to adequately study FB [ 8 ]. The recent COVID-19 pandemic has shown that also FB and their business families are severely hit not only business-wise but also in terms of mental health [ 79 ]. COVID-19 and its aftermath have put considerable strain on the physical and emotional wellbeing of family and non-family members, bringing tensions to the surface (e.g., on dividend pay-outs, on decisions on business model changes or on sticking to tradition), engendering negative emotions (e.g., grief, frustration, anxiety, fear) which might undermine the clarity of thought of key decision-makers in the FB [ 11 ].…”

“…COVID-19 and its aftermath have put considerable strain on the physical and emotional wellbeing of family and non-family members, bringing tensions to the surface (e.g., on dividend pay-outs, on decisions on business model changes or on sticking to tradition), engendering negative emotions (e.g., grief, frustration, anxiety, fear) which might undermine the clarity of thought of key decision-makers in the FB [ 11 ]. Notwithstanding this strain, FBs seem to focus on employee well-being during this crisis [ 79 ]. Individual family members’ sacrifices for securing the continuity of the FB (e.g., missing dividend payouts), seemed to be facilitated if the family benefits from alignment and cohesion, which is enabled by good communication practices.…”

The Effect Of Corporate Board And Ownership Structure On Financial Performance

“…Board size refers to the number of directors seated on a company's board. A board's oversight and direction, based on its members' knowledge, experience, and individual qualities, have always contributed to the success and survival of businesses (Astrachan et al, 2020). A larger board is perceived to be better because of its diverse expertise .…”

“…The monitoring and guidance of a board, based on its members' expertise, experience, and unique attributes, have always contributed to the success and survival of companies. Companies utilising their boards' problem-solving abilities will likely withstand crises (Astrachan et al, 2020). As the current pandemic continues to affect all parts of a company's operations, the board of directors must focus not only on the typical monitoring function of managers but also on their policy-setting and active supervisory roles (Croci et al, 2020;Khatib et al, 2020;.…”

The influence on succession of womens involvement in the boards of directors of family firms, through the lens of neuroscience

“…We aim to know the real functions of the board, if there is any real discussion or debate, and how decisions are taken. The relationships among directors and between the board and the chief executive were relevant to permit full and frank discussions of the crucial issues facing the firm (Astrachan et al, 2020).…”