Board Tasks Research Articles

Women Directors: An Empirical Test of Critical Mass Hypothesis

This paper offers integrated theoretical-based empirical evidence regarding the role of female directors in promoting corporate common good using resource dependency model built on critical mass hypothesis. Using panel regression involving 220 firm-year observations from 2011 to 2021, the paper empirically assesses the moderating impacts of diversity and social inclusion policy, and gender-based power separation in determining the direction of causality between composition of female directors and foreign capital importation by the top 20 commercial banks in Nigeria. With approximately 30 per cent female director representation in the sampled banks (i.e., optimal gender threshold), the paper offers support to critical mass hypothesis and validates intrinsic benefits of women in corporate boardroom. The empirical result shows that female director representation in boards with strong diversity and social inclusion policy and greater independent non-executive directors, is positively linked to resource dependency role of foreign capital importation. Diversity of power separation is found to be detrimental to such board tasks due to overwhelming tokenism effect that surrounds gender-based power delineation. These key findings are statistically significant and robust to a series of iterated sensitivity tests. In addition to offering emerging market contributions to the growing literature on critical mass theory application, findings from this study demonstrate the inherent value of combining multiple governance theories (such as resource dependency and critical mass models) and the dynamic research framework opportunities it offers for robust empirical testing.

Informing wobble-board training and assessment through an investigation of the effect of biological-sex, anthropometrics, footwear and dual-tasking in young adults.

Despite wobble board use being common in physiotherapy the effect of certain factors, essential to clinical reasoning, have not been investigated. To determine the effect of biological sex, anthropometrics, footwear and dual tasking (DT) on wobble board balance performance. Eighty-six healthy participants (44 females) had their wobble board performance measured during double-leg-stance (DLS) with eyes open (DLSEO), closed (DLSEC) and single-leg-stance (SLS) tasks, with and without footwear and a DT added. Anthropometrics were also measured. Females outperformed males during most tasks, with some large effect sizes (ES). Performance was moderately related to weight and shoulder, waist and hip circumference. Overall, there were no differences between footwear and no footwear, except for males during SLS. DT made little difference, except during DLSEO and SLS, where single task was better than DT, though only females had a large ES. During wobble board tasks, biological sex differences were observed and a modest correlation between anthropometrics and performance noted. DT and footwear had minimal effect.

From Family Director Pathos to Board Ethos: Managing Multiple Role Identity Struggles in the Boardroom of Family Firms

AbstractThe literature indicates that the board of directors exists to provide resources and strategic direction (service task) and monitor top managers (control task), often tending to overgeneralize board tasks. Using a unique sample of 36 elite family firm directors having served on 615 boards with an aggregate 1447 years’ experience, and integrating interview and secondary data with observations, we capture how the multiple role identity struggles experienced by family directors are managed in the board. Our data indicate that effective boards resolve multiple role identity struggles (i.e., family director ‘pathos’) through the mechanisms that boardroom structural forces trigger and the resulting bridge and buffer tasks enacted (i.e., board ‘ethos’), going beyond the traditional service and control tasks.

Personal protective equipment-induced systemic hypercapnic hypoxaemia: translational implications for impaired cognitive-clinical functional performance.

Personal protective equipment (PPE) adversely affects pulmonary gas exchange and may result in systemic hypercapnic hypoxaemia and headache. This study aimed to determine what extent PPE affects cerebral symptoms, global cerebral blood flow, and cognitive functional performance. Higher surgical trainees participated in a randomized, repeated-measures, crossover study, completing 60 min of laparoscopic surgical simulation in both standard operating attire and type 3 PPE. Measurements were collected at baseline and after 60 min of simulation. The primary outcome measure was headache. Headache was examined using the validated visual analogue scale (VAS) and Environmental Symptoms Questionnaire C (ESQ-C), global cerebral blood flow with duplex ultrasonography, and visuospatial and executive gross/fine motor function with grooved peg board (GPB) and laparoscopic bead (LSB) board tasks. Thirty-one higher surgical trainees (20 men, 11 women) completed the study. Compared with standard operating attire, PPE increased headache assessment scores (mean(s.d.) VAS score 3.5(5.6) versus 13.0(3.7), P < 0.001; ESQ-C score 1.3(2.0) versus 5.9(5.1), P < 0.001) and was associated with poorer completion times for GPB-D (61.4(12.0) versus 71.1(12.4) s; P = 0.034) and LSB (192.5(66.9) versus 270.7(135.3) s; P = 0.025) tasks. Wearing PPE increased heart rate (82.5(13.6) versus 93.5(13.0) beats/min; P = 0.022) and skin temperature (36.6(0.4) versus 37.1(0.5)°C; P < 0.001), but decreased peripheral oxygen saturation (97.9(0.8) versus 96.8(1.0) per cent; P < 0.001). Female higher surgical trainees exhibited higher peripheral oxygen saturation across all conditions. No differences were observed in global cerebral blood flow as a function of attire, time or sex. Despite no marked changes in global cerebral blood flow, type 3 PPE was associated with increased headache scores and cerebral symptoms (VAS and ESQ-C) alongside impaired executive motor function highlighting the clinical implications of PPE-induced impairment for cognitive-clinical performance.

Exploring Board Behavior in a Public Context: Experiences from a Swedish Municipal Corporation

Based on an eclectic behavioral theoretical approach and institutional logic, this study explores what constitutes board behavior in the public setting. The empirical material relates to a longitudinal case study of a local municipal corporation (MC). Whereas private sector board research tends to highlight the tasks of control and service, we have identified multiple board tasks in Swedish MCs: control, decision-making, service, conflict resolution, education, legitimizing the MC, and key value implementation. We also found four contingencies of board tasks in our data, namely board composition, board leadership, presidium empowerment, and board processes, thus providing further knowledge on the emergence of specific board tasks in MCs. By combining the eclectic behavioral and institutional logics perspectives, our study highlights how and why different board behavior emerges from an institutional frame. Our findings contribute to the nascent field of research on public boards by providing empirical insights into public board behavior.

Exploring Board Behaviour in a Public Context - Experiences from a Swedish Municipal Corporation

Based on an eclectic theoretical approach of board behaviour and longitudinal case-observations of a local municipal corporation this study aims at exploring what constitutes board behaviour in the public setting. Whereas private sector board research tend to highlight the tasks of control and service we have identified multiple board tasks in Swedish MC i.e. control, decision-making, service, conflict resolution, education, MC legitimization, and key value implementation. Moreover, our study has emerged four contingencies of board task, i.e. board composition, board leadership, presidium empowerment, and board processes, that further the knowledge on the emergence of specific board tasks in MC. Finally, relying on institutional logics our study theorises how and why different board behaviour emerges from an institutional frame. By doing that our findings contribute to the nascent field of research on public boards and contribute with empirical insights of public board behaviour.

Board dynamics and board tasks empowered by women on boards: evidence from Italy

PurposeThis study aims to examine the effects of board dynamics produced by reaching a certain proportion of women on board tasks (monitoring, strategy and advisory).Design/methodology/approachUsing a panel of 35 listed companies belonging to FTSE-MIB index, for the years 2008–2015, the hypotheses can be tested by applying random effect regressions. The introduction of gender board quota law in Italy has created a quasi-natural experiment that is applied in the study.FindingsThis research provides evidence that reaching 33% women on boards, which is the threshold mandated by the Italian gender board quota law, makes a difference for strategy tasks but not for monitoring tasks. This proportion of women on boards creates the board dynamics necessary to empower all board members, allowing the varied knowledge, skills, backgrounds and personal qualities to be leveraged and used in strategy tasks. For monitoring tasks, obtaining a proportion of 20% women on boards, as a first threshold enforced by the law, is enough to voice their opinion during board meetings and challenge management.Originality/valueThe results show that each set of board tasks requires different dynamics trigged by a specific proportion between a minority (women) and a dominant subgroup (men). To enhance monitoring tasks performance, it is enough to reach a proportion between men and women which makes the women less isolated and more inclined to speak up during the board meetings. In the case of strategy tasks, the improved performance is achieved when the dominant group enticed to hear women’s opinions and responsive to various perspectives. This paper expands the debates going beyond monitoring tasks, showing the importance of board dynamics for engagement in strategy and advisory tasks.

Inside the black box: How can gender diversity make a difference in the boardroom?

PurposePrior research shows that a board of directors' gender diversity positively influences organizations. However, little is known about how and why gender diversity influences the board of directors' functioning and decisions. The objective of this paper is to investigate the differences between women and men when fulfilling their role as directors.Design/methodology/approachThis research uses a qualitative approach based on 29 in-depth semi-structured interviews with female and male board members.FindingsThe authors’ findings reveal that women are as involved as men in the board tasks and responsibilities. Also, women have the same understanding as men of their role and of the skills needed to be board members. However, women fulfil their role differently than men. Women come to board meetings more prepared, take more notes and do more follow-up, and they also dare to ask tough questions to top management. Women directors bring a different point of view — representing different interests — to board discussions, have a different communication style, are not a part of the boys' club and have a social upbringing that might explain gender differences in the boardroom.Research limitations/implicationsThis study could help boards and policymakers introduce diversity measures and provide ways to better integrate women into top decision-making groups such as board of directors.Practical implicationsThis study's findings can help organizations include females in key decision-making groups such as board of directors.Social implicationsThis study reveals that in the same social setting, with the same role and expectations, and the same understanding of their role, both genders continue to perform differently.Originality/valueBased on direct evidence from board members, this study highlights how and why women do their role in the boardroom differently.

Unveiling the global focus-performance relationship in family firms: The role of the board of directors

Drawing on the resource-based view, this study examines how board composition and board tasks affect the relationship between the firm’s global focus and performance in private family firms. Based on a sample of 234 Belgian private family firms, our empirical analyses reveal that nonfamily involvement in the board attenuates the negative relationship between the firm’s global focus and performance. Furthermore, our results show that the global focus-performance link turns positive at higher levels of board networking and advisory tasks, whereas board control task has no significant effect. Ultimately, these findings underscore the board of directors as a key governance contingency, highlighting its important role in overcoming the challenges of global expansion in private family firms.

Revising the Non-Financial Reporting Directive and the role of board of directors: a lost opportunity?

PurposeThe purpose of this paper is to shed light an important limit of the Non-Financial Reporting Directive (NFRD) in pursuit of its substantial purpose, which is to achieve sustainability and contribute to achieving the objectives of United Nation (UN) Agenda 2030; the paper also suggests how to overcome those limits.Design/methodology/approachThe study used a survey of board members of listed and un-listed Italian companies. Data were analysed using an ordered probit model.FindingsThe results show that a greater involvement of a board member in the non-financial reporting process is associated with a stronger commitment towards sustainable development. Specifically, the involvement in materiality assessment is positively associated with more proactive behaviours towards sustainability.Research limitations/implicationsThe use of self-reported assessments on beliefs and behaviours and the application of an online survey are methodology limitations of the study. Regarding theory, the study contributes to the literature on corporate governance and sustainability, integrating upper echelons theory, which focuses on how individual attributes influence a firm's strategies and governance, with research on how leadership practices can have a positive impact on corporate sustainability goals.Practical implicationsThe paper underscores the opportunity for policymakers to increase the effectiveness of the NFRD through deeper involvement of the board members in the process of non-financial reporting. The results could also be of interest to governance bodies in terms of defining a board's tasks and practices to encourage the adoption of behaviours oriented towards a stronger engagement in sustainable issues.Originality/valueThis is the first study to provide evidence of the relationship between individual directors' tasks and behaviours, non-financial reporting and Sustainable Development Goals (SDGs). This study highlights some of the limits of the NFRD, even after the public consultation to revise it, and suggests how to overcome these limits.

Legal Regulation of the Supervisory Board of the National Fund for Environmental Protection and Water Management

Abstract History and legal regulations concerning the structure and functioning of the Supervisory Board of the National Fund for Environmental Protection and Water Management are presented in this article. The introduction discusses the historical background of the Fund. Composition and appointment and dismissal of the Supervisory Board members, their rights and responsibilities, as well as the Board's tasks are described in the successive sections. Procedures of the Board's sessions and resolutions and documentation of its activities are presented. The statistics contained in the reports that the Fund's Supervisory Board submits annually to the competent minister are analysed in the final section. The paper concludes with an assessment of legal regulations applying to the Board.

Where the Work Gets Done – The Effects of Committee Composition on Firm Performance

There is an emerging consensus that the work of the board is done in committees (Kolev, Wangrow, Barker III, & Schepker, 2019). There are different types of committees on boards with differing charges. Yet there is sparse evidence as to how and how well these committees work. Investigating board committees from an attention-based view (Ocasio, 1997), we argue that committee heterogeneity is a powerful means to focus director attention on the specific task of a committee. By differentiating between tasks where directors need to be able to broadly scan the environment for opportunities and board tasks where directors need a very domain specific kind of knowledge we argue that firms whose committee composition is reflective of the requirements of the committee’s task, where the attention of the members is appropriately focused, will see positive firm performance. Based on an analysis of board committees, our results suggest that committee heterogeneity has varying effects on firm performance depending on whether a committee is required to focus attention on one domain specific task or whether a committee needs to distribute attention widely to meet the requirements of broad and complex tasks.

Towards a Multi-theoretical Approach on the Board and Firm Performance Relationship

Recent reviews of research on company boards and firm performance relationship tend to criticise three of the main traditional theories on boards, namely Agency Theory (AT), Resource Dependence Theory (RDT), and Managerial Power Theory (MPT) for their narrow assumptions and focuses on a limited range of board tasks. This study provides a critical review on these above theories and promotes a direction towards an integrated approach with three important governance factors, namely board capability, board incentives, and CEO power for a better understanding of board-firm performance relationship.

BOARDS OF DIRECTORS IN BRAZIL: LITERATURE REVIEW AND RESEARCH AGENDA

ABSTRACT Purpose: The purpose of this paper is to review and systematize previous studies on boards of directors in Brazil and propose an agenda to guide future studies. Originality/value: A conceptual model is developed to provide an integrated view for research on the board of directors, incorporating variables from different levels that connect governance mechanisms, best practices, board dynamics and company performance; we identified gaps for the research agenda. Design/methodology/approach: This review analyzed 95 articles on boards of directors in Brazil between 2000 and 2019. The review was conducted in three major steps: 1. planning; 2. conducting; and 3. organizing the data and reporting the findings. Findings: There is a growing interest in studying boards of directors in Brazil, with a wide range of topics. The most studied are board composition, best practices, diversity and gender. Despite the diversity, the previous studies are homogeneous in theoretical and methodological terms. Based on the agency theory, most articles sought to relate board demography to financial performance, and the findings are not convergent. This scenario opens up some research avenues to address topics that have not yet been explored, such as board processes, board tasks, and differentiation between board performance and company performance.

The advisory role of non-family board members: a case-based study of a family firm

The objective of this case-based study is to provide insights into the advisory role of non-family board members in a family firm attempting strategic renewal. By studying the non-family board members of a family firm in a Nordic country, we suggest that non-family board members’ advisory role evolves in a dynamic way. We show at the micro-level how the role, content, intensity, and locus of advice change and how it can be both inertia- and stress-inducing. This facilitates the renewal and hence a firm’s capacity to improve its alignment with changing external demands. We highlight the collaborative nature of the advisory role and the importance of the non-family member chair in ensuring effective board processes. Through our research we contribute to the understanding on the contextual nature of the board roles and tasks and on family firm renewals. We provide insights into how the family firm owners and the chair of the board can enhance the prospects that the non-family board members create value through their advisory role.

China: Zhejiang Binmei – natural blue Spirulina extract

Drawing on the resource-based view, this study examines how board composition and board tasks affect the relationship between the firm’s global focus and performance in private family firms. Based on a sample of 234 Belgian private family firms, our empirical analyses reveal that nonfamily involvement in the board attenuates the negative relationship between the firm’s global focus and performance. Furthermore, our results show that the global focus-performance link turns positive at higher levels of board networking and advisory tasks, whereas board control task has no significant effect. Ultimately, these findings underscore the board of directors as a key governance contingency, highlighting its important role in overcoming the challenges of global expansion in private family firms.

Women Do the Job: The Reasons to Make Women Sit on Boards

In the last years many European countries have introduced quota to increase the number of women on corporate boards. We focus on a country where the formal and informal institutions are not supporting the women to take managerial positions and thus being appointed on corporate boards. We study the effect of gender diversity, enforced by regulation on quota, on board processes that enhance board tasks: (1) firm monitoring; (2) firm strategy; and (3) management advising. Based on the unique qualitative data on board activities of the top listed companies in from 2008 to 2015, we find introducing regulation on quota in Italy matters for the firm monitoring and strategy related-tasks, but decreases the company's management commitment to follow best practice corporate governance principles related to competitive and proportionate executive compensation. All of the evidence suggests that diversified boards after introducing quota are indeed stronger monitors and more involved in the strategy-related tasks due to improved board decision making culture and board development activities as well as board independence.

Ownership and Board Independence in a Context of Capital Market Liberalization

We examine what predicts the extent of board independence, with a focus on the role of international owners in a sample of French corporations, during a period where the French context witnessed accelerated capital market liberalization. Board independence is a means to ensure effective monitoring over management for the benefit of shareholders. We test the idea that different types of owners will differentially impact the extent to which a board will be independent, one main reason being the differences in the legal and political economic institutions in the owners’ home countries. Despite some global convergence, owners may still differ in their views depending on their country of origin on the importance of board monitoring relative to other board tasks, such as resource provision to management.

The Path to Independence: Board Cohesion, Cognitive Conflict, and Information Sharing

ABSTRACTCorporate boards in America are dominated currently by outside directors because of the belief that they are more effective at monitoring management. There continues to be debate, however, concerning whether regulators should dictate board composition using input-based attributes of directors such as outside status. Opponents contend that board independence is best established through applying voluntary best practices to board processes. In this research, we study board processes and examine how the group task cohesion that is determined by directors' social similarity affects outside directors' reports that the CEO influences their beliefs, a key element of director independence. We propose that the degree of social similarity (similarity as to backgrounds) between outside directors and other directors is positively related to the degree of commitment directors have toward the board's tasks. We show that this task commitment (cohesion) has a positive effect on directors' efforts to obtain and receive information from the firm and CEO. Additional analyses show that the effect of information sharing on the level of CEO influence of outside directors depends on the presence of cognitive conflict—constructive discussion among directors regarding differing viewpoints—between the outside directors and the inside directors. We test our hypotheses using a survey, which was developed based on in-depth field interviews, and the archival data on directors' attributes as well as firm-level outcomes. Results support the hypotheses, and have implications for regulators and boards.

A pilot study on transient ischemic stroke induced with endothelin-1 in the rhesus monkeys

Endothelin-1 (ET-1), a vasoconstrictor, has recently been used to induce focal ischemia in rodents and marmoset monkeys. The rhesus monkey, however, has numerous advantages to the rodent and marmoset that make it a superior and irreplaceable animal model for studying stroke in the brain. In the present study, after mapping the preferred hand representation in two healthy male monkeys with intracortical micro-stimulation, ET-1 was microinjected into the contralateral motor cortex (M1) to its preferred hand. The monkeys had been trained in three manual dexterity tasks before the microinjection and were tested for these tasks following the ET-1 injection. Brain Magnetic Resonance Imaging scans were performed 1, 7, 14 and 28 days post ischemia. It was found that ET-1 impaired the manual dexterity of the monkeys in the vertical slot and rotating Brinkman board tasks 3–8 days after the injection. Brain imaging found that severe edema was present 7 days after the focal ischemia. This data suggest that ET-1 can induce transient ischemic stroke in rhesus monkey and that ET-1 induced focal ischemia in non-human primates is a potential model to study the mechanism of stroke and brain repair after stroke.