Corporate Governance für KMU – Eine empirische Analyse und Konzeptualisierung für den Schweizer Markt

Although corporate governance (CG) is relevant to small and medium-sized enterprises (SMEs) as well, little is known about the application of CG principles in SMEs.

This work analyses the implementation of CG in Swiss SMEs and contrasts it with theoretical principles in order to identify potential for improvement and to derive a conceptual framework for effective implementation and handling of CG.

To cover the topic of CG holistically and gain a new and clear perspective on its complexities, the theoretical basics were divided into three dimensions: structural, content-related and prescriptive. All essential CG elements were introduced and discussed from the perspective of effectiveness.

For expert interviews, an interview guideline was derived from these basics to realistically capture the implementation status in a wide range of SMEs. A two-stage sampling process with predefined criteria and a theoretical sampling phase was implemented to obtain a comprehensive picture of the existing heterogeneity of SMEs.

Content-structuring qualitative content analysis was then conducted on the data by using a deductively derived and inductively supplemented category system.

To identify characteristic features of the implementation of these CG systems, both different subgroups of SMEs were analysed, and a typology was developed. This analysis led to the conclusion that the design of the CG structures in the companies investigated could be divided into three types: 'CG specialists', 'CG optimizers' and 'CG beginners'. The implementation of CG in these companies was influenced by the following factors: 'interest', 'knowledge' and 'external influences'.

As a result, a conceptual framework could be developed by considering potential for improvement in the general meetings of shareholders, staffing and development of the board of directors, internal control, risk management, and compliance.

For research, further insights could be gained both for SMEs and their handling of CG by being close to the object of investigation.

However, to be able to develop research tools and CG recommendations that are capable of meeting the needs of SMEs, the complexity of their characteristics must be addressed by a more differentiated structuring rather than solely via the number of employees.