Board Composition from Adolescence to Maturity: a Multi-theoretic View
نویسندگان
چکیده
We develop theory to show board composition and, consequently firm performance are a reflection of the firm’s life cycle stage and the relative power of the CEO and external financiers at the time of founding. This theory provides insight into the predictive validity of agency, resource dependence, institutional and social network theories. We also argue that boards are subject to path dependency and thus, board composition is likely to persist over time. (72 words)
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