Corporate Governance Challenges and Proposition of Internationalization Model Adoption for Family Owned Businesses in Nigeria

Olufemi Amos Akinbola, Salami Akeem Olanrewaju, Abolaji Joachim Abiodun


The internationalization of family businesses as being impeded by corporate governance structure has been a controversial subject theme in developing economies; especially Nigeria as family businesses contributes a reasonable proportional percentage to the national gross domestic product (GDP). The essence of internationalizing a family business to become global business has been the interest of most business founders in Nigeria as the purpose of establishing such business are usually short-range to financial sustainability and business continuity as only a few firms outlived the death of their founder due to lack of proper standard governance structure that can make the businesses to be perpetual. The research is qualitative in nature as it tries to explore the internationalization models on internationalization which includes the progressive, contingency and interactive models that are suitable, available and adoptable for a large family business concern that desires to go international by working on their corporate governance and strategy adoption. The paper ponders on the governance challenges of family owned businesses and probable techniques to adopt to go international. The paper therefore acclaimed that business founders should be visionary in their affairs and applaud initiatives that have the capacity to make their firms to be internationalized.


Corporate Governance; Internationalization; Family Business

Full Text:



Akinbola, Zekeri and Idowu (2017). The Power Sector and its Impacts on Industrialization of Businesses in Nigeria, Archives of Business Research – Vol.5, No.12

Antunes, D. and Thomas, H. (2007), “The competitive (dis)advantages of European business schools”, Long Range Planning, Vol. 40, pp. 382-404.

Căescu, S.C. and Dumitru, I. (2011), “Particularities of the competitive environment in the business to business field”, Management & Marketing, Vol. 6, No. 2, pp. 273-284

Danciu, V. (2001), Marketing international. De la traditional la global , Editura Economică, Bucureşti

De meyer,A ,Harker,P. and hawawi,G.(2004),”The globalization of business education” in Gatigon ,H. and Kimberly ,J (Eds) The Insead-wharton alliance on Globalizing Cambridge University Press, Cambridge

Etemat, H., Ala-Mukta, J. (2009), “Growth and Internationalization Strategies of Rapidly Growing and Internationalizing Enterprises from Canada and Finland”, ASAC, Niagara Falls, Ontario

Forsgren, M., Hogstrom, P. (2004), Ignorant Internationalization? The Uppsala Model and Internationalization for Internet – Related Firms, Uppsala University, Sweden

Gubitta P., and Gianecchini M. (2002). Governance and Flexibility in family-owned SMEs. Family Business Review, Vol. 15 No. 4, pp. 277-297.

Hollensen, S. (2008), Essential of Global Marketing, Pearson Education Limited, Harlow, Essex

Hudzik,J. (2011). Comprehensive internationalization. Washington, DC: NAFSA.

Joseph H Astrachan and Melisa carey Shanker (2003). Family businesses contribution to U.S economy

Luijten-Lub, A., Van der Wende, M., Huisman, J. (2005). On cooperation and competition: A comparative analysis of national policies for internationalization of higher education in seven Western European countries. Journal of Studies in International Education, 9, 147-163. Google Scholar, SAGE Journals

Miller, D., & Le Breton-Miller, I. (2005). Managing for the long run: Lessons in competitive advantage from great family businesses. Boston, MA: Harvard Business School Press. Google Scholar

Naidoo, V. (2006), ‘‘International education, an tertiary level update’’, Journal of Research in International Education, Vol. 5 No. 3, pp.

OECD (2017) corporate governance fact-book, access from G20/OECD principle of corporate governance

Pignatti, F., “The Uppsala model and the internationalization of the fast-moving e-commerce companies”, available at:

Popa, I. (2001), Tehnica operaţiunilor de comerţ exterior. Programul de pregătire a specialiştilor vamali, Vol. 2, Editura Economică, Bucureşti

Robert F. Bruner & Juliane Iannarelli (2012) Globalization of Management Education, Journal of Teaching in International Business, 22:4, 232-242, DOI: 10.1080/08975930.2011.653908

Rubaeva, M. (2010), “Internationalization of Western Retail Company Eastwards: Metro Group Case”, The Aarhus School of Business, United States

SA Owolabi, TJ Owolabi, GO Olanrewaju - Unique Journal of Business Management Research, 2014

Sorensen, J.O. (1997), “The Internationalization of Companies. Different Perspectives of How Companies Internationalize”, International Business Economics, Working Paper Series, No. 23

Svend Hollensen (2008). The choice of foreign entry modes in a control perspective. The IUP Journal of Business Strategy, 8(4), 7–31.

Vernon, R. Wells, L. T. (1966). International trade and international investment in the product life cycle. Quarterly Journal of Economics, 81(2), 190-207.



  • There are currently no refbacks.

Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.