Adoption of the Wates Principles among UK Family Businesses

Martin Kemp; Francesca Cuomo; Silvia Gaia; Diogenis Baboukardos; Giovanna  Michelon; Teerooven Soobaroyen

Adoption of the Wates Principles among UK Family Businesses

Martin Kemp^*
, Francesca Cuomo
, Silvia Gaia
, Diogenis Baboukardos
, Giovanna Michelon
, Teerooven Soobaroyen

^*Corresponding author for this work

Family Business Research Foundation
Norwich Business School and Centre for Competition Policy, University of East Anglia, Norwich Research Park, NR4 7TJ, Norwich, United Kingdom
Essex Business School
Athens University of Economics and Business
Università degli Studi di Padova

Research output: Book/Report › Commissioned report

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Abstract

This report from the Family Business Research Foundation sheds new light on the corporate governance practices of UK family businesses, focusing on their adoption of the Wates Principles. The research reveals that while family-owned firms are more likely to adopt the Wates Principles than their non-family counterparts, gaps remain in areas like board composition and director accountability. The report underscores the need for improved disclosures and governance practices in family businesses to strengthen stakeholder trust and long-term sustainability. It also calls for further guidance to support family firms in aligning with governance best practices, an issue increasingly important in the UK’s evolving regulatory landscape.

Original language	English
Commissioning body	Family Business Research Foundation
Number of pages	28
Publication status	Published - Sept 2024

Bibliographical note

Copyright © 2024 Family Business Research Foundation. This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License (https://creativecommons.org/licenses/by-nc-nd/4.0/).

Keywords

Family business
corporate governance
Disclosure
Wates Principles

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Wates+Principles+and+Family+Business+Report+Final
Copyright © 2024 Family Business Research Foundation. This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License (https://creativecommons.org/licenses/by-nc-nd/4.0/).
Final published version, 6.47 MBLicence: CC BY-NC-ND 4.0

Cite this

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AU - Soobaroyen, Teerooven

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N2 - This report from the Family Business Research Foundation sheds new light on the corporate governance practices of UK family businesses, focusing on their adoption of the Wates Principles. The research reveals that while family-owned firms are more likely to adopt the Wates Principles than their non-family counterparts, gaps remain in areas like board composition and director accountability. The report underscores the need for improved disclosures and governance practices in family businesses to strengthen stakeholder trust and long-term sustainability. It also calls for further guidance to support family firms in aligning with governance best practices, an issue increasingly important in the UK’s evolving regulatory landscape.

AB - This report from the Family Business Research Foundation sheds new light on the corporate governance practices of UK family businesses, focusing on their adoption of the Wates Principles. The research reveals that while family-owned firms are more likely to adopt the Wates Principles than their non-family counterparts, gaps remain in areas like board composition and director accountability. The report underscores the need for improved disclosures and governance practices in family businesses to strengthen stakeholder trust and long-term sustainability. It also calls for further guidance to support family firms in aligning with governance best practices, an issue increasingly important in the UK’s evolving regulatory landscape.

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KW - corporate governance

KW - Disclosure

KW - Wates Principles

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M3 - Commissioned report

BT - Adoption of the Wates Principles among UK Family Businesses

ER -

Adoption of the Wates Principles among UK Family Businesses

Abstract

Bibliographical note

Keywords

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