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1 results

  • 2 - Best Practices for Boards of Directors

  • from Part I - What Do We Know about Corporate Governance Practices?
  • Bryce C. Tingle, University of Calgary
  • Book:
    Hard Lessons in Corporate Governance
    Published online:
    23 May 2024
    Print publication:
    30 May 2024, pp 37-55

  • Summary

    This chapter looks at the extensive body of empirical research bearing on the major governance best practices recommended for boards of directors: (1) majority (and super-majority) independent directors; (2) independent board committees for things like audit and compensation oversight; (3) board diversity; (4) separating the CEO and board Chair roles; (5) reducing director commitments outside of the company, often referred to as “director busyness” or “overboarding”; and (6) avoiding interlocking directorships. The chapter finds that these best practices do not produce any real-world corporate outcomes that we care about. The possible reasons for these failures are considered.