AMARAL-BAPTISTA, Marcio; MELO, Maria Angela    MACEDO-SOARES, T. Diana. Boards of directors and strategy implementation monitoring: a conceptual model. []. , 17, Especial, pp.55-75. ISSN 0873-7444.

This paper presents a conceptual model of non-structural factors that may affect the effectiveness of boards of directors in the task of monitoring strategy implementation. The extant research on boards has focused on the relationships between their structural features and firm performance. This study goes beyond these issues by investigating behavioral, contextual and normative factors. Building on general board performance models, we used a Team Production Theory perspective to identify the factors that may influence a board’s performance in ensuring strategy implementation. Based on empirical evidence from interviews with a panel of board directors and specialists, we prioritized the factors and determined the potential nature of the relationships among them. A set of testable propositions was then developed. By investigating the behaviors and work practices that affect the quality of a board’s intervention into strategy implementation, this study sheds light on the hitherto under-researched «black box» of board functioning.

: Board of Directors; Strategy Implementation; Corporate Governance; Team Production Theory; Conceptual Model.

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