Evaluation and self-assessment of supervisory bodies of private or family businesses
Advisory and supervisory boards in SMEs - good corporate governance generates more value
Regardless of whether a company is listed on the stock exchange, professional committee work is an essential component of successful corporate governance. This applies to the work of an advisory board in a family business as well as to the work of a (compulsory) supervisory board in a limited liability company with equal co-determination.
However, the requirements for the committees in private companies differ in some cases very significantly from those of listed companies. As a rule, medium-sized family businesses have fewer formal corporate governance mechanisms than large listed companies and rather take on the role of sparring partners and conflict resolvers. The prerequisite for this is that the board also has appropriate expertise in corporate governance.