How boards influence business performance: developing an explanation
| Autor: | Peter R. Crow, James C. Lockhart |
|---|---|
| Rok vydání: | 2016 |
| Předmět: |
Organizational Behavior and Human Resource Management
050208 finance Data collection Process management business.industry Corporate governance media_common.quotation_subject 05 social sciences Principal–agent problem Context (language use) Public relations Documentation Originality 0502 economics and business Conceptual model Business Management and Accounting (miscellaneous) Strategic management business 050203 business & management media_common |
| Zdroj: | Leadership & Organization Development Journal. 37:1022-1037 |
| ISSN: | 0143-7739 |
| DOI: | 10.1108/lodj-08-2014-0168 |
| Popis: | Purpose The purpose of this paper is to explore the relationship between boards and board activity and subsequent business performance, in the context of high-growth companies, through the lens of decision making and business performance. Design/methodology/approach A critical realist approach was used to conduct a longitudinal multiple-case study of two medium-sized, quasi-public high-growth companies. Data collection included first-hand observations of boards in session, semi-structured interviews with key actors and the inspection of board and company documentation. An iterative approach to analysis was used to gain an in-depth understanding of how the boards worked and how they sought to exert influence. Findings The paper provides empirical insight about board involvement in strategic management. A proactive involvement by boards in the strategy development process and assessment of strategic options, and a collaborative form of board involvement in strategic management together with management is indicated as being important if the board is to exert influence beyond the boardroom. A conceptual model of a collaborative form of board-management interaction is developed. Practical implications The paper provides guidance for boards, suggesting that a more direct level of involvement in strategic management by the board together with management may be material to improved business performance. Originality/value The paper responds to calls for more research on the relationship between boards and business performance. It contributes much-needed first-hand evidence from within the boardroom. |
| Databáze: | OpenAIRE |
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