Open AccessInside the Black Box of the Board: Towards a Global Comparative Model of Board Effectiveness for Listed Companies
Author(s) -
Peter Am Jansen
Publication year - 2019
Publication title -
journal of corporate governance research
Language(s) - English
Resource type - Journals
ISSN - 1948-4658
DOI - 10.5296/jcgr.v3i1.14108
Subject(s) - accounting , corporate governance , on board , business , institutional review board , black box , computer science , psychology , engineering , artificial intelligence , finance , psychiatry , aerospace engineering
This conceptual research seeks to develop a global comparable model of board effectiveness for listed companies based on a multi-theoretic and multi-disciplinary approach and mostly quantifiable macro-level (national culture and legal-institutional indicators) and micro-level variables (board characteristics and board processes), by synthesizing recent corporate governance theories on boards of directors and board effectiveness into a new theoretical model. In contrast to most existing models of board effectiveness, it accounts for the moderating effect of national contexts, the mediating influence of board roles on board processes, the relevance of those board processes as predictors of board effectiveness and it offers a validated board effectiveness measure that is directly linked to firm performance. Additionally, it offers a research strategy for cross-national board effectiveness research.