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| Author: | Castro, C. B. (et al.) |
| Title: | Does the team leverage the board's decisions? |
| Journal: | Corporate governance
2009 : NOV, VOL. 17:6 p. 744-761 |
| Index terms: | corporate governance strategic planning board of directors top management decision making |
| Freeterms: | strategic change |
| Language: | eng |
| Abstract: | This study analyses the form of the board-TMT interaction and the firm's level of strategic change. Related to these issues, it is also explored that there needs to be a good fit between the board of directors and the top management team (TMT) to effectively bring about strategic change. Using archival data from a sample of 119 firms from 1993 to 2000, it is found that when a synergy exists btw. the board and the TMT, there will be a greater inclination for strategic change. It is also found that a board's inclination to contribute to strategic change increases as the board size increases. |
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