The cognitive dimension of corporate governance in fast growing entrepreneurial firms

► I apply an integrative model of corporate governance to the entrepreneurial firm. ► I make theoretical propositions on the cognitive role of governance for fast growth. ► I review empirical works linking growth and governance mechanisms. This article explores the specific morphology and functioning of the governance system of fast growing entrepreneurial firms. Corporate governance is conceptualized as a complex system composed of different mechanisms and various actors, reaching beyond the corporate board and its members. To explain the link between the governance system at large and growth, I build on a general model of corporate governance first proposed by Charreaux (2008), where governance potentially influences managerial behavior through two levers: financial discipline and cognition. I argue that, in the specific case of entrepreneurial firms, corporate governance may play a central role in sustaining high levels of growth through the extensive use of the cognitive lever. Beyond its theoretical implications, the model is also instrumental in providing a consistent framework for an exploration of existing empirical research. I review research specifically devoted to the governance of entrepreneurial firms which experience strong growth and find support for the rationale underlying the proposed model.