We investigate the relation of board structure through the appointments of outside directors and the role of busy directors on firm return on assets within an environment of no regulation for privately held firms and voluntary adoption of corporate best practices for security issuers with family...

This article represents a comprehensive review of the main financial literature consisting of the main studies in family businesses. Focusing on the agency theory, the review describes the main agency problems that arise between managers and owners, between managers and debt holders, and between...