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The Role of the Non‐executive Director: findings of an empirical investigation into the differences between listed and unlisted UK boards

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  • Tracy Long
  • Victor Dulewicz
  • Keith Gay

Abstract

This study, based on a comparison of the Combined Code Guidelines for non‐executive directors between listed and unlisted boards, suggests that on unlisted boards non‐executive directors have a greater degree of involvement in strategic development, financial monitoring, shareholder communication and overall board contribution than on listed boards, but a lesser degree of involvement in the monitoring of management, the setting of executive remuneration, the appointment and removal of executives, and succession planning. The importance of risk analysis and induction is considered high across both sectors, although board development and independence is considered less important on unlisted boards.

Suggested Citation

  • Tracy Long & Victor Dulewicz & Keith Gay, 2005. "The Role of the Non‐executive Director: findings of an empirical investigation into the differences between listed and unlisted UK boards," Corporate Governance: An International Review, Wiley Blackwell, vol. 13(5), pages 667-679, September.
    • Handle: RePEc:bla:corgov:v:13:y:2005:i:5:p:667-679
    DOI: 10.1111/j.1467-8683.2005.00458.x
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    Cited by:

    1. Janet Lee & Greg Shailer, 2008. "The Effect of Board-Related Reforms on Investors' Confidence," Australian Accounting Review, CPA Australia, vol. 18(2), pages 123-134, June.
    2. Yeh, Chien Mu & Taylor, Tracy & Hoye, Russell, 2009. "Board roles in organisations with a dual board system: Empirical evidence from Taiwanese nonprofit sport organisations," Sport Management Review, Elsevier, vol. 12(2), pages 91-100, May.
    3. Corinne Cortese, 2009. "A Profile of the Non-Executive Directors of Australia's Largest Companies," Australian Accounting Review, CPA Australia, vol. 19(1), pages 33-41, March.
    4. Pugliese, A. & Bezemer, P.J. & Zattoni, A. & Huse, M. & van den Bosch, F.A.J. & Volberda, H.W., 2009. "Boards of Directors’ Contribution to Strategy: A Literature Review and Research Agenda," ERIM Report Series Research in Management ERS-2009-013-STR, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
    5. Sharon Kemp, 2010. "Driving Strategy or Just Going through the Motions: An Empirical Study of Boardrooms in the UK," International Journal of Business Administration, International Journal of Business Administration, Sciedu Press, vol. 1(1), pages 2-18, November.
    6. Goh, Lisa & Gupta, Aditi, 2016. "Remuneration of non-executive directors: Evidence from the UK," The British Accounting Review, Elsevier, vol. 48(3), pages 379-399.
    7. Victor Dulewicz & Keith Gay & Bernard Taylor, 2007. "What Makes an Outstanding Chairman? Findings from the UK Non‐Executive Director of the Year Awards, 2006," Corporate Governance: An International Review, Wiley Blackwell, vol. 15(6), pages 1056-1069, November.

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