Evaluating Boards of Directors: what constitutes a good corporate board?

This paper is an attempt to identify what constitutes a good board of directors, and this is based on a comparison between academic literature, corporate governance rating systems and our field research into board practices. We observed that “traditional” academic research focused on a limited numbe...

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Bibliographic Details
Published in:Corporate governance : an international review 2004-10, Vol.12 (4), p.461-478
Main Authors: Van den Berghe, L. A. A., Levrau, Abigail
Format: Article
Language:English
Subjects:
board effectiveness
board evaluation
board of directors
Boards of directors
Business management
Classification
Corporate governance
corporate governance rating
Corporate management
Evaluation
Executives
Management science
Strategic management
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Summary:This paper is an attempt to identify what constitutes a good board of directors, and this is based on a comparison between academic literature, corporate governance rating systems and our field research into board practices. We observed that “traditional” academic research focused on a limited number of quantifiable board characteristics, while practitioners attach greater importance to “soft” elements, which are nearly absent in the literature and in the governance ratings. These findings highlight the need for a better understanding of all elements that determine board effectiveness. Furthermore, our results identify three areas of improvement for boards of directors.
ISSN:0964-8410
1467-8683
DOI:10.1111/j.1467-8683.2004.00387.x