The Role of the Board and Its Interaction with the Successor’s Human Capital in the Asian Family Enterprise

This study examined the human and social capital factors associated with higher post‐succession firm performance in family enterprises in Singapore. We also investigated the moderating influence of the board of directors in terms of its service role as stewards of the enterprise. We found that a successor’s industry experience and diversity of network ties were positively associated with firm performance and boards that focused their role as advisors to the successor enhanced post‐succession firm performance.