Corporate governance and family business: A literature review

Corporate governance is the much debated topic today. Corporate governance practices are required to maintain transparency and to protect the interest of various stakeholders in an organisation. In a family-owned business, there is no separation of ownership and control as the board and management is represented by mostly family members. In view of this, it is important to study the corporate-governance practices followed by family-owned business. This paper tries to bring out various aspects of corporate governance related to family business.