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Corporate Board Committees and Corporate Outcomes: An International Systematic Literature Review and Agenda for Future Research

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  • Mohammed A. Alhossini

    (Centre for Research in Accounting, Accountability, and Governance (CRAAG), Department of Accounting, Southampton Business School, University of Southampton, Southampton SO17 1BJ, UK†Shaqra University, Riyadh, Saudi Arabia)

  • Collins G. Ntim

    (Centre for Research in Accounting, Accountability, and Governance (CRAAG), Department of Accounting, Southampton Business School, University of Southampton, Southampton SO17 1BJ, UK)

  • Alaa Mansour Zalata

    (Centre for Research in Accounting, Accountability, and Governance (CRAAG), Department of Accounting, Southampton Business School, University of Southampton, Southampton SO17 1BJ, UK‡Faculty of Commerce, Mansoura University, El-Mansoura, Egypt)

Abstract

This paper comprehensively reviews the current body of international accounting literature regarding advisory/monitoring committees and corporate outcomes. Specifically, it synthesizes, appraises, and extends current knowledge on the (a) theoretical (i.e., economic, accounting/corporate governance, sociological and socio-psychological) perspectives and (b) empirical evidence of the observable and less visible attributes at both the individual and committee levels and their link with a wide range (financial/non-financial) of corporate outcomes. Using the systematic literature review method, 304 articles from 59 journals in the fields of accounting and finance that were published between January 1992 and December 2018 are reviewed. The main findings are as follows. First and theoretically, agency theory is the most dominant applied theory/studies with no application of theory at all (descriptive), while the application of integrated theoretical frameworks is lacking in the reviewed articles. Secondly, the existing empirical evidence focusses excessively on (a) monitoring instead of advisory committees and (b) observable rather than less visible committee attributes. Thirdly, scarcity of cross-country studies along with methodological limitations relating to measurement inconsistencies, insufficiency of variables, and dominance of quantitative studies, among others, are identified. Finally, promising future research avenues are outlined.

Suggested Citation

  • Mohammed A. Alhossini & Collins G. Ntim & Alaa Mansour Zalata, 2021. "Corporate Board Committees and Corporate Outcomes: An International Systematic Literature Review and Agenda for Future Research," The International Journal of Accounting (TIJA), World Scientific Publishing Co. Pte. Ltd., vol. 56(01), pages 1-73, March.
    • Handle: RePEc:wsi:tijaxx:v:56:y:2021:i:01:n:s1094406021500013
    DOI: 10.1142/S1094406021500013
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    Citations

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    Cited by:

    1. Nerantzidis, Michail & Tampakoudis, Ioannis & She, Chaoyuan, 2024. "Social media in accounting research: A review and future research agenda," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 54(C).
    2. Pei‐Chi Kelly Hsiao & Charl de Villiers & Claire Horner & Hein Oosthuizen, 2022. "A review and synthesis of contemporary sustainability accounting research and the development of a research agenda," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(4), pages 4453-4483, December.
    3. Douglas A. Adu & Antoinette Flynn & Colette Grey, 2022. "Executive compensation and sustainable business practices: The moderating role of sustainability‐based compensation," Business Strategy and the Environment, Wiley Blackwell, vol. 31(3), pages 698-736, March.
    4. Ibrahim Khalifa Elmghaamez & Jacinta Nwachukwu & Collins G. Ntim, 2024. "ESG disclosure and financial performance of multinational enterprises: The moderating effect of board standing committees," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(3), pages 3593-3638, July.
    5. Amal Jmaii & Noomene Zaafouri & Hella Guerchi Mehri, 2024. "On the measurement of corporate governance and its impact on bank profitability and credit risk: The case of Tunisian listed banks," African Development Review, African Development Bank, vol. 36(2), pages 239-251, June.
    6. Lagasio, Valentina & Brogi, Marina & Gallucci, Carmen & Santulli, Rosalia, 2023. "May board committees reduce the probability of financial distress? A survival analysis on Italian listed companies," International Review of Financial Analysis, Elsevier, vol. 87(C).
    7. Sattar Khan & Yasir Kamal & Shahid Hussain & Muhammad Abbas, 2022. "Corporate governance looking back to look forward in Pakistan: a review, synthesis and future research agenda," Future Business Journal, Springer, vol. 8(1), pages 1-32, December.
    8. Peter Kwarteng & Kingsley Opoku Appiah & Joseph Akadeagre Agana & Newman Amaning, 2024. "Effect of corporate governance mechanisms on corporate strategy for listed firms in Sub-Saharan Africa (SSA)," SN Business & Economics, Springer, vol. 4(6), pages 1-39, June.
    9. Shuchi Pahuja & Anita Agrawal, 2023. "Board Attributes and Corporate Social Responsibility: A Systematic Literature Review and Future Research Perspectives," Indian Journal of Corporate Governance, , vol. 16(1), pages 108-138, June.
    10. Bogdan Aurelian Mihail & Dalina Dumitrescu & Carmen Daniela Micu & Adriana Lobda, 2021. "The Impact of Board Diversity, CEO Characteristics, and Board Committees on Financial Performance in the Case of Romanian Companies," JRFM, MDPI, vol. 15(1), pages 1-16, December.
    11. Thi H.H. Nguyen & Mohamed H. Elmagrhi & Collins G. Ntim & Yue Wu, 2021. "Environmental performance, sustainability, governance and financial performance: Evidence from heavily polluting industries in China," Business Strategy and the Environment, Wiley Blackwell, vol. 30(5), pages 2313-2331, July.
    12. Alatawi, Ibrahim A. & Ntim, Collins G. & Zras, Anis & Elmagrhi, Mohamed H., 2023. "CSR, financial and non-financial performance in the tourism sector: A systematic literature review and future research agenda," International Review of Financial Analysis, Elsevier, vol. 89(C).

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