THE ROLE OF THE BOARD OF DIRECTORS IN FAMILY BUSINESSES: A QUALITATIVE APPROACH

Tito-Huamaní P.; Velarde-Sussoni J. · Corporate Board: Role, Duties and Composition (2026) · DOI: 10.22495/cbv22i2art7

Resumen

The role of the board of directors in family businesses is always a topic of interest, given that its decisions impact the development of these businesses (Laksana et al., 2024). Therefore, the purpose of this study was to analyze and determine the role of the board of directors in the management of family businesses from a qualitative perspective. The research design was phenomenological-hermeneutic to facilitate the understanding and articulation of the participants’ experiences and perspectives. Theoretical saturation was achieved with fourteen interviewees, whose responses were analyzed using ATLAS.ti software. The findings reveal that boards of directors are composed of family members and external professionals, creating a balance between the family’s vision and independent perspectives in a changing environment. Furthermore, the board plays a strategic and advisory role, making key decisions to guide the direction of the business. This research provides relevant evidence on the role of the board of directors in the management of Peruvian family businesses and fills a theoretical gap in a country with a high rate of entrepreneurs. It is concluded that the board of directors is the key to the institutionalization and sustainability of the family business, where the tension between family and business logic remains unresolved for now.

Instituciones: Universidad de Lima