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Investigating the Development of the Internal and External Service Tasks of Non-executive Directors: The Case of the Netherlands (1997-2005)

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Author Info
Bezemer, P.J.
Maassen, G.F.
Bosch, F.A.J. van den
Volberda, H.W. (Erasmus Research Institute of Management (ERIM), RSM Erasmus University)

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Abstract

During the last decade, globalization and liberalization of financial markets, changing societal expectations and corporate governance scandals have increased the attention for the fiduciary duties of non-executive directors. In this context, recent corporate governance reform initiatives have emphasized the control task and independence of non-executive directors. However, little attention has been paid to their impact on the external and internal service tasks of non-executive directors. Therefore, this paper investigates how the service tasks of non-executive directors have evolved in the Netherlands. Data on corporate governance at the top-100 listed companies in the Netherlands between 1997 and 2005 show that the emphasis on non-executive directors’ external service task has shifted to their internal service task, i.e. from non-executive directors acting as boundary spanners to non-executive directors providing advice and counseling to executive directors. This shift in board responsibilities affects non-executive directors’ ability to generate network benefits through board relationships and has implications for non-executive directors’ functional requirements.

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Paper provided by Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam. in its series Research Paper with number ERS-2007-074-STR Revision_Date: 2009-12-05.

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Date of creation: 08 Aug 2007
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Handle: RePEc:dgr:eureri:1765010698

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  1. Laura F. Spira & Ruth Bender, 2004. "Compare and Contrast: perspectives on board committees," Corporate Governance: An International Review, Blackwell Publishing, vol. 12(4), pages 489-499, October. [Downloadable!] (restricted)
  2. Philip Stiles, 2001. "The Impact of the Board on Strategy: An Empirical Examination," Journal of Management Studies, Blackwell Publishing, vol. 38(5), pages 627-650, 07. [Downloadable!] (restricted)
  3. Geoffrey C. Kiel & Gavin J. Nicholson, 2003. "Board Composition and Corporate Performance: how the Australian experience informs contrasting theories of corporate governance," Corporate Governance: An International Review, Blackwell Publishing, vol. 11(3), pages 189-205, 07. [Downloadable!] (restricted)
  4. Lynsey Sheridan & Edward Jones & Claire Marston, 2006. "Corporate Governance Codes and the Supply of Corporate Information in the UK," Corporate Governance: An International Review, Blackwell Publishing, vol. 14(5), pages 497-503, 09. [Downloadable!] (restricted)
  5. Violina P. Rindova, 1999. "What Corporate Boards have to do with Strategy: A Cognitive Perspective," Journal of Management Studies, Blackwell Publishing, vol. 36(7), pages 953-975, December. [Downloadable!] (restricted)
  6. Gregory Maassen & Frans van den Bosch, 1999. "On the Supposed Independence of Two-tier Boards: formal structure and reality in the Netherlands," Corporate Governance: An International Review, Blackwell Publishing, vol. 7(1), pages 31-37, 01. [Downloadable!] (restricted)
  7. Paul Collier & Mahbub Zaman, 2005. "Convergence in European Corporate Governance: the audit committee concept," Corporate Governance: An International Review, Blackwell Publishing, vol. 13(6), pages 753-768, November. [Downloadable!] (restricted)
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