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Delusions, Confusion, and Biases

In: Value Creation for Owners and Directors

Author

Listed:
  • Massimo Massa

    (INSEAD)

  • Kai Taraporevala
  • Ludo Van der Heyden

Abstract

Individual and group biases corrupt a rational and fact-based approach to governance. We lay out the problems affecting CEOs and their executive teams, as well as owners and their Boards of Directors. This chapter shows that a great deal of alignment and durable commitment is required for value creation. At the same time, heterogeneity on a board is an essential ingredient for effective decision making. Yet, heterogeneity may also render board work unmanageable. Board composition is thus a crucial decision. Examples are presented to illustrate this point, as well as to highlight the ways boards may succeed in conquering this challenge.

Suggested Citation

  • Massimo Massa & Kai Taraporevala & Ludo Van der Heyden, 2023. "Delusions, Confusion, and Biases," Springer Books, in: Value Creation for Owners and Directors, chapter 10, pages 209-225, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-19726-0_10
    DOI: 10.1007/978-3-031-19726-0_10
    as

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