ABSTRACT
In his F-PEC model J. H. Astrachan et al. has given a structure with which companies, regardless of their size, can or cannot be called family businesses. In an empirical study by Vandekerkhof, it was shown that family businesses perform better than non-family businesses. It must be possible thereby to establish whether an enterprise is a family business. The element of power concerns the possibilities a family has to determine what happens within an enterprise and what strategy is implemented to achieve the vision and mission of the enterprise. The power a family can exercise on an enterprise on the basis of ownership is determined by the shares the family owns. Corporate Governance concerns the structures and procedures that steer and retain control of enterprises. It organizes the mutual relations between the board of management, the management, shareholders and other parties with an interest in the enterprise.
