Abstract:

A plethora of studies has been conducted regarding board effectiveness, particularly in large firms. Those studies have extensively discussed factors that can leverage board effectiveness. Nevertheless, little has clearly clarified the internal dimensions of board effectiveness in SMEs. This article, therefore, purports to explore from the standpoints of SMEs on the core dimensions of board effectiveness. In doing so, the study employs a qualitative approach in which an in-depth interview is conducted as the main instrument of the data collection. There are 15 experts and SMEs directors have been interviewed. The study unfolds two mains findings. First, the type of roles that measures board performance which encompasses of control and service roles. Secondly, separation of roles among directors is suggested given the scarcity of resources.