Publication Type
Journal Article
Version
publishedVersion
Publication Date
7-2023
Abstract
Boards of directors play a central role in governing corporate strategic change. We systematically review corporate governance research on strategic change published over the past 40 years, differentiating between strategic change types and board characteristics. We identify three developments: a focus on specific strategic change types, board composition and structure, and North American listed firms as a dominant study context. Yet, our analysis of the literature shows that research on board governance of interrelated strategic changes, on different board roles and behaviour, and on the governance of strategic changes across different contexts remains underdeveloped. To address these research gaps, we suggest three future research avenues: (1) examining how boards govern interrelated changes in a strategic change portfolio and its evolution over time; (2) studying the mediating relationship between board governance (particularly different board roles and behaviour), strategic changes, and corresponding outcomes; and (3) gaining a better understanding of the role of context in board governance of interrelated strategic changes. We contribute to corporate governance research by developing a framework that synthesizes extant research on the relationships between different board governance variables and strategic change types, highlights important research gaps, and outlines several future research directions to address these gaps. Our framework and literature overview serve as analytical tools to examine whether boards are well-designed and prepared to govern multiple and interrelated strategic changes.
Discipline
Business Law, Public Responsibility, and Ethics | Strategic Management Policy
Research Areas
Strategy and Organisation
Publication
International Journal of Management Reviews
Volume
25
Issue
3
First Page
467
Last Page
494
ISSN
1460-8545
Identifier
10.1111/ijmr.12317
Publisher
Wiley
Citation
KLAMER, Patricia; YU, Qiwen; YOSHIKAWA, Toru; and HITT, Michael.
Board governance of strategic change: An assessment of the literature and avenues for future research. (2023). International Journal of Management Reviews. 25, (3), 467-494.
Available at: https://ink.library.smu.edu.sg/lkcsb_research/7118
Copyright Owner and License
Authors
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-Share Alike 4.0 International License.
Additional URL
https://doi.org/10.1111/ijmr.12317
Included in
Business Law, Public Responsibility, and Ethics Commons, Strategic Management Policy Commons