Over the years, the empirical evidences have demonstrated that particular board features can improve the survival chances of firms suffering a crisis and, to date, experts agree that discussing these evidences is necessary for the further improvement of knowledge in this field. This critical review article aims to contribute to this goal by commenting on how the empirical research on board effectiveness in crisis contexts has been evolving over time. Valuable evidences emerge from the review. For example, it seems that board independence has a key role in enhancing the performance of firms suffering a crisis. At the same time, the review suggests that further refinement is needed for supporting (or eventually refuting) the idea that boards and/or CEOs must be replaced to achieve successful turnaround strategies. On the basis of its findings, the review also prospects a number of conceptual and methodological implications for the future research and practice about board effectiveness in corporate crises. For example, these implications are associated with future investigations about the executives’ socio-demographic features and personality traits as well. More international comparisons seem also needed to improve the reliability of the extant knowledge.

Abatecola, G., Farina, V., Gordini, N. (2014). Board effectiveness in corporate crises: lessons from the evolving empirical research. CORPORATE GOVERNANCE, 14(4), 531-542 [10.1108/CG-03-2013-0030].

Board effectiveness in corporate crises: lessons from the evolving empirical research

ABATECOLA, GIANPAOLO;FARINA, VINCENZO;
2014-01-01

Abstract

Over the years, the empirical evidences have demonstrated that particular board features can improve the survival chances of firms suffering a crisis and, to date, experts agree that discussing these evidences is necessary for the further improvement of knowledge in this field. This critical review article aims to contribute to this goal by commenting on how the empirical research on board effectiveness in crisis contexts has been evolving over time. Valuable evidences emerge from the review. For example, it seems that board independence has a key role in enhancing the performance of firms suffering a crisis. At the same time, the review suggests that further refinement is needed for supporting (or eventually refuting) the idea that boards and/or CEOs must be replaced to achieve successful turnaround strategies. On the basis of its findings, the review also prospects a number of conceptual and methodological implications for the future research and practice about board effectiveness in corporate crises. For example, these implications are associated with future investigations about the executives’ socio-demographic features and personality traits as well. More international comparisons seem also needed to improve the reliability of the extant knowledge.
2014
Pubblicato
Rilevanza internazionale
Articolo
Esperti anonimi
Settore SECS-P/08 - ECONOMIA E GESTIONE DELLE IMPRESE
Settore SECS-P/11 - ECONOMIA DEGLI INTERMEDIARI FINANZIARI
English
Senza Impact Factor ISI
boards of directors; corporate crisis; empirical literature; turnaround
Abatecola, G., Farina, V., Gordini, N. (2014). Board effectiveness in corporate crises: lessons from the evolving empirical research. CORPORATE GOVERNANCE, 14(4), 531-542 [10.1108/CG-03-2013-0030].
Abatecola, G; Farina, V; Gordini, N
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/2108/80507
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