Ebos managing director Mark Waller has warned that a fixation on corporate governance will hold back firms from growing.
The global financial crisis, and collapse of finance company firms in New Zealand, triggered tighter rules on the how firms are run and controlled.
Mr Waller said that had helped many listed firms in New Zealand, by reassuring international investors.
But he said it should not end up hindering firms' expansion plans and their ability to grow and take risks.
Mr Waller said it was important not to have too many directors, and that they needed a good breadth of experience.