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How Family Firms Solve Intra-Family Agency Problems Using Interlocking Directorates: An Extension


James J. Chrisman, tel.: (662) 615-4373; e-mail:


This commentary makes two contributions to a better understanding of interlocking directorates in family firms. First, we compare agency costs in family and nonfamily firms. Second, we present additional propositions on how interlocking directorates address agency issues in family firms.