This chapter examines family business governance as a model for sustainability, drawing on agency theory, stewardship theory, stakeholder theory, and socioemotional wealth theory. The aim is to understand how governance mechanisms in family firms contribute to long-term success and how these can be applied to other corporate forms. The study focuses on three key areas: implementing long-term incentive structures, cultivating a culture of stewardship and legacy, and balancing financial and non-financial goals in corporate governance. The analysis suggests that these elements can significantly enhance organizational sustainability when adapted to non-family contexts. This chapter contributes to the understanding of sustainable governance practices and offers practical implications for businesses seeking to enhance their long-term viability and societal impact.
Authors: Hamza Nidaazzi, Jihane Zaher
DOI: https://doi.org/10.4018/979-8-3693-6750-6.ch008
Publish Year: 2024
