Corporate Boards, Investors and Their Relationships: accounts of accountability and corporate governing in action

Annie Pye

Corporate Governance: An International Review, 2001, vol. 9, issue 3, 186-195

Abstract: This paper argues that constructive relationships between investors and boards have become crucial to running large organisations. Comparing interview data from Chairmen, Chief Executives and board members in 1987–89 and 1998–2000, this paper also considers the changing role of NEDs and influence of board culture which may constrain NEDs’ ability to perform effectively. While the board’s influence on shareholder value may be significant, the inability to account for its effectiveness or contribution appears surprising. The paper concludes that as shareholders exercise their “absolute rights” to question management, this may encourage more covert rather than overt behaviour, raising questions of accountability.

Date: 2001
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