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| Author: | Kroll, M. Walters, B.A. Wright, P. |
| Title: | Board vigilance, director experience, and corporate outcomes |
| Journal: | Strategic Management Journal
2008 : APR, VOL. 29:4, p. 363-382 |
| Index terms: | corporate governance board of directors executives directors agency theory learning |
| Freeterms: | acquisitions |
| Language: | eng |
| Abstract: | This paper argues that relying only on director (hereafter as: dir./dirs.) vigilance (here as: vigl.) may be limiting because vigl. without relevant experience is unlikely to ensure board effectiveness. It is contented that boards comprising vigilant dirs., as well as dirs. with appropriate knowledge gained through experience, will be better monitors and also more useful advisors to top managers. The study focuses on the effect on acquisition (as: acqs.) outcomes of the interaction of board vigl. and experiential learning of dirs. The empirical findings show that vigilant boards rich in appropriate experience are associated with superiour acqs. outcomes. |
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