Toward a Behavioral Theory of Board Involvement in the Strategic Decision Making Process
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초록
본 연구의 목적은 이사회가 기업의 전략적 의사결정에 참여하는 과정과 참여 결과에 대한 이론적 틀을 제시하는데 있다. 좀 더 구체적으로 본 연구에서는 최고경영자와 이사회 간에 존재하는 갈등을 효과적으로 관리하는 것이 기업의 의사결정과 성과에 매우 중요한 요인임을 주장하고자 한다. 그리고 최고경영자와 이사회 간의 갈등은 최고경영자와 이사회간의 권력분배와 직무관련다양성에 의해 영향을 받는다. 이러한 주장에 대한 시사점과 미래연구 방향에 대해서 토의 하였다.
Abstract
Despite the increasing acknowledgment of the potential of the boards of directors to make contributions in the strategic decision making of the firm, the research to date has largely ignored the strategic role of the board. However, the new competitive landscape, institutional investors, and the courts have been putting pressure on the boards of directors to be more accountable for the performance of the firm. Thus, it may be time for a renewed emphasis on the strategic role of the board. In this paper, we develop a behavioral theory of board involvement in the strategic decision making process. The model suggests how and with what consequences boards of directors might get involved in the strategic decision making of the firm. More specifically, we argue strategic decision making outcomes, such as decision quality and ultimately firm performance, depends on the cognitive and affective conflict between the CEO and the board. Further, the concepts of power sharing and job-related diversity between the CEO and the board influence both cognitive and affective conflict.
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