Board Directors as Elites in the Context of International Joint Ventures

Jelena Petrovic, Nada Kakabadse and Andrew Kakabadse

Chapter 10 in Global Elites, 2012, pp 157-173 from Palgrave Macmillan

Abstract: Abstract Forbes and Milliken (1999: 493) characterise boards of directors as ‘large, elite and episodic decision making groups that face complex tasks pertaining to strategic-issue processing’. From an individual director perspective some scholars have argued that individuals join boards for financial remuneration, prestige and contacts that may prove useful in the future and to promote upper-class cohesion creating a business elite (Useem, 1984; Zajac 1988). For example, according to the reputation hypothesis, entering in the corporate elite has a positive impact on firms’ value (Phan et al., 2003). As a group, it is up to the corporate elite to ensure good corporate governance. At the same time, the concentration of corporate control in the hands of relatively small, often homogeneous and closed corporate elites has long been recognised as a democratic difficulty for capitalism.

Keywords: Corporate Governance; Parent Company; Supervisory Board; Board Director; International Joint Venture (search for similar items in EconPapers)
Date: 2012
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-36240-6_10

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230362406

DOI: 10.1057/9780230362406_10

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().