Solutions Strategies to the Agency Problem in SME Governance

The review article focuses on exploring agency problem-solving strategies in SME governance worldwide. The Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) method was employed to conduct the literature review. Through a comprehensive search across 5 databases, initially, 216 articles containing at least one of the terms of interest in their title or abstract were identified; however, after a rigorous selection process, only 7 articles met all the established inclusion and exclusion criteria. The results highlight the scarcity of research addressing the agency problem comprehensively in the context of SMEs. The inherent complexity of these issues is evident, emphasizing the need to consider a variety of factors such as ownership structure, financing, and governance when addressing these challenges. Consequently, the importance of future research delving into this field is emphasized, aiming to provide a better understanding and develop effective strategies to enhance governance in SMEs.