RODRIGUES, Jorge    SEABRA, Fernando. Board of Director’s: what roles?. []. , 10, 1-2, pp.2-12. ISSN 1645-4464.

The separation between ownership and management induced the creation of a board of directors in companies. The vital roles of boards of directors are mediate solutions to proposals and claims in conflict. Those, demand intricate balances of power above a large set of targets and resources to obtain. There are three roles: institutional, governance and strategic. The institutional role, external, legitimates enterprise activities regarding their environment, stimulates to get resources. The governance role, internal, searches to align the interests of different kinds of constituencies. The strategic role aims to take strategic decisions to adapt the enterprise to their environment. Although the management roles have to develop to new configurations and new processes of value creation.

: Board of Directors; Corporate Governance; Value Creation.

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