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Breakthrough Board Performance: How to Harness Your Board's Intellectual Capital

Nicholson, Gavin J. & Kiel, Geoffrey C. (2004) Breakthrough Board Performance: How to Harness Your Board's Intellectual Capital. Corporate Governance: The International Journal of Business in Society, 4(1), pp. 5-23.

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Abstract

To date, corporate governance research agendas have tended to concentrate on one particular role that a board performs. For instance, agency theory concentrates on the monitoring role, resource dependence theory concentrates on the board providing access to resources and stewardship theory concentrates on the board’s advice-giving or strategic role. While these approaches provide practitioners with useful guidelines regarding issues such as board independence, we contend that practitioners need to take care not to act on the recommendations from a single theory in isolation from the others. To address this concern, we provide a model of board effectiveness that uses the construct of board intellectual capital to integrate the predominant theories of corporate governance and illustrate how the board can drive corporate performance. We further contend that boards that wish to improve their performance need to review their intellectual capital. We conclude by linking the model to a practitioner-focused framework that identifies four key areas on which a board must concentrate to develop its intellectual capital.

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ID Code: 5008
Item Type: Journal Article
Keywords: Boards of directors, Board evaluation, Board performance, director performance, board roles
DOI: 10.1108/14720700410521925
ISSN: 1472-0701
Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BUSINESS AND MANAGEMENT (150300)
Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BUSINESS AND MANAGEMENT (150300) > Business and Management not elsewhere classified (150399)
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Copyright Owner: Copyright 2004 Emerald Publishing
Copyright Statement: Reproduced in accordance with the copyright policy of the publisher.
Deposited On: 13 Sep 2006
Last Modified: 29 Feb 2012 23:23

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