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Board Capability; An Interactions Perspective on Boards of Directors and Firm Performance

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  • Mark Macus

Abstract

Multitheoretic board research and research on board processes have, to date, been pursued in isolation. I argue that board interactions can serve as the conceptual basis for a combination of these two approaches to board research. I argue that board composition and board structure merely endow the board with a certain potential to contribute to firm performance but do not ensure that this potential actually comes to bear. Based on the insights from social psychology and group research, I propose board interactions as an enabling factor that allows boards to realize their problem-solving potential and to thus contribute to the firm's performance. Based on this theoretical argument, I suggest that boards with adequate configurations of composition, structure, and interactions can build "board capability" that would enhance the firm's competitive advantage.

Suggested Citation

  • Mark Macus, 2008. "Board Capability; An Interactions Perspective on Boards of Directors and Firm Performance," International Studies of Management & Organization, Taylor & Francis Journals, vol. 38(3), pages 98-116, January.
    • Handle: RePEc:taf:mimoxx:v:38:y:2008:i:3:p:98-116
    DOI: 10.2753/IMO0020-8825380304
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    Cited by:

    1. Misbah Azam & Dr. Ali Raza Elahi & Dr. Shahbaz-Ul-Haque, 2023. "Managerial Discretion and Corporate Governance Mechanism: A Case Study of Public Limited Firms of Pakistan," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 12(4), pages 564-576.
    2. Jacqueline Christensen & Pamela Kent & Jenny Stewart, 2010. "Corporate Governance and Company Performance in Australia," Australian Accounting Review, CPA Australia, vol. 20(4), pages 372-386, December.
    3. Bénédicte Brullebaut & Isabelle Allemand & Enrico Prinz & Florence Thépot, 2022. "Persistence in corporate networks through boards of directors? A longitudinal study of interlocks in France, Germany, and the United Kingdom," Review of Managerial Science, Springer, vol. 16(6), pages 1743-1782, August.
    4. Francesca Gennari, 2019. "How to Lead the Board of Directors to a Sustainable Development of Business with the CSR Committees," Sustainability, MDPI, vol. 11(24), pages 1-17, December.
    5. Liu, Yu, 2020. "The comparative and interactive effects of political, academic and financial directors," International Review of Economics & Finance, Elsevier, vol. 70(C), pages 546-565.
    6. Gérard Hirigoyen & Radhoine Laouer, 2013. "Convergence of Corporate and Public Governance," SAGE Open, , vol. 3(2), pages 21582440134, June.
    7. Duru, Augustine & Iyengar, Raghavan J. & Zampelli, Ernest M., 2016. "The dynamic relationship between CEO duality and firm performance: The moderating role of board independence," Journal of Business Research, Elsevier, vol. 69(10), pages 4269-4277.
    8. Conan L. Hom & Daniel Samson & Peter B. Cebon & Christina Cregan, 2021. "Inside the black box: an investigation of non-executive director activity through the lens of dynamic capability," Asia Pacific Journal of Management, Springer, vol. 38(3), pages 857-895, September.
    9. He, Liyu & He, Rong & Evans, Elaine, 2020. "Board influence on a firm’s long-term success: Australian evidence," Journal of Behavioral and Experimental Finance, Elsevier, vol. 27(C).
    10. Francesca Gennari & Daniela M. Salvioni, 2019. "CSR committees on boards: the impact of the external country level factors," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 23(3), pages 759-785, September.

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