This paper aims to describe and analyze the consequences of the family context and the family value system on the corporate governance in a family business group. In order to do this four analytical dimensions are dealt with: family, property, management and family value system. An understanding of corporate governance that highlights interests that relate with value system and the patterns of organizational behavior was used. .(WILLIAMSON, 1996; CADBURY, 1998; FAN, 2001). The theoretical contributions were applied in a case study on a large scale family business group. The data collected in 14 semi-structured interviews, nonsystematic observation and document research underwent thematic content analysis (BAR-DIN, 2009; MINAYO, 2012). The main contribution is the theoretical and empirical legitimacy of the purpose of the following discussion: the adoption of a governance model linked with the value system that guides the controlling family provides a way to mediate interests favorable to the maintaining and the development of the family organization.
Family business; Corporate governance; Family values; Family history; Fraternal ties
