Governance in professional service firms.
This paper aims to deliver new insights into the field of governance in professional service firms by bringing together and comparing the latest theoretical as well as practical findings and furthermore to provide recommendations for both practitioners and scholars. In order to achieve this goal,...
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| Main Author: | |
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| Other Authors: | |
| Format: | Theses and Dissertations |
| Language: | English |
| Published: |
2009
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10356/19339 |
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| Institution: | Nanyang Technological University |
| Language: | English |
| Summary: | This paper aims to deliver new insights into the field of governance in professional
service firms by bringing together and comparing the latest theoretical as well as
practical findings and furthermore to provide recommendations for both
practitioners and scholars. In order to achieve this goal, this thesis challenges
research with practice to equally reflect both perspectives.
The conclusions from this paper are the following: Professional service firms
definitely benefit from good governance principles. Properly set up governance
principles have the potential to resolve critical agency conflicts within the
professional partnership and hereby enhances the firm’s performance potential.
The chosen legal structure has furthermore the potential to strengthen the
partnership principle by adequately reflecting the partnership’s norms and vision in
the legal form. The reversed KISS principle (Hilb, 2005) provides a situational,
strategic, integrated, and controlled approach on governance issues and hereby
helps to keep the balance between fostering entrepreneurial behaviour and
assessing overall risk exposure what furthermore keeps the partnership principle
alive. |
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