This Year's Model: influences on board and director evaluation
Over the last few years corporate governance codes and shareholder expectations have increased the need for boards of directors to demonstrate effective leadership, quality decision-making processes and the ability to exercise corporate controls. Shareholders and stakeholders continue to focus on indicators such board structure, composition and non-executive independence as proxies for effectiveness, often without an increased under-standing of the environment in which boards of directors make decisions, or the behaviour and dynamics of individuals. In order specifically to address this issue the Combined Code, published in 2003, stated that a board should undertake annually "a formal and rigorous evaluation of its own performance, that of the committees and individual directors" ( Financial Reporting Council, 2003 , p. 10. The "Combined Code on Corporate Governance". London: Financial Reporting Council), although it omitted to give formal guidance on evaluation methods, or the disclosure of outcomes to shareholders. Copyright (c) 2006 The Author; Journal compilation (c) 2006 Blackwell Publishing Ltd.
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Volume (Year): 14 (2006)
Issue (Month): 6 (November)
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