Towards a Multi-theoretical Approach on the Board and Firm Performance Relationship

Recent reviews of research on company boards and firm performance relationship tend to criticise three of the main traditional theories on boards, namely Agency Theory (AT), Resource Dependence Theory (RDT), and Managerial Power Theory (MPT) for their narrow assumptions and focuses on a limited rang...

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Bibliographic Details
Main Author: Tien, Nguyen Thu Thuy
Format: Article
Language:English
Published: H. : ĐHQGHN 2020
Subjects:
Online Access:http://repository.vnu.edu.vn/handle/VNU_123/89342
https://doi.org/10.25073/2588-1108/vnueab.4317
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Institution: Vietnam National University, Hanoi
Language: English
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Summary:Recent reviews of research on company boards and firm performance relationship tend to criticise three of the main traditional theories on boards, namely Agency Theory (AT), Resource Dependence Theory (RDT), and Managerial Power Theory (MPT) for their narrow assumptions and focuses on a limited range of board tasks. This study provides a critical review on these above theories and promotes a direction towards an integrated approach with three important governance factors, namely board capability, board incentives, and CEO power for a better understanding of board-firm performance relationship.