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The control role of the Board of Directors is aimed at monitoring the decisions and actions undertaken by managers in order to protect stockholders’ interests. Considerable theoretical and empirical research has analyzed whether directors’ behavior is consistent with their fiduciary responsibility, but this research has reported inconsistent findings. This paper offers a comprehensive review of both theoretical and empirical literature on the control role of the board and suggests several guidelines for future research.
Management Research The Journal of the Iberoamerican Academy of Management – Emerald Publishing
Published: Apr 1, 2003
Keywords: Control; Directors; Stockholders; Effectiveness; Power
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