Board Participation in the Strategic Process of SMEs: The Effect of Board Professionalization
In this research, we examine the effects of SMEs board professionalization on its participation in the strategic decision process. From a sample of 186 French SMEs, we show that the professionalization of the board, both through the formalization of its operation and by the presence of knowledge and skills, is a major determinant of its participation in the strategic process. These results contribute to the cognitive and behavioral perspectives of the study of SMEs governance.