test our hypothesis we use a sample of 307 Spanish SMEs, none of which is listed. Our main empirical result is the negative …

-sectional ordinary least squares regression model to test the hypotheses on a sample of 313 non-listed Spanish family SMEs. The authors … board members' ownership and firm performance in family SMEs. Nevertheless, the results are different in comparing first … relationship between family board ownership and firm performance in the context of non-listed family SMEs. The authors consider …

of 230 family small and medium-sized enterprises (SMEs), our results confirm that a good family firm image and … open boards of directors in family SMEs in order to develop and implement entrepreneurial strategies …