1. Assessing the Discomfort. The Transitions. The Paradoxes. Comparing Boards. The "Sources": Participating Board Members. The Structure of the Book -- 2. Corporate Governance: Lifespace and Accountability. How Do Societies Enforce Corporate Accountability? Composite Lifespace. Boards in Perspective -- 3. The "Job" of the Board: Defining the Portfolio. Practitioner Opinions on the Content of Their Job. Creating a Board Portfolio: A Conceptual Approach. How Does the Board Do Its Job? Restating the Governance Portfolio. Summary -- 4. Whose Responsibility: The Board or Management? Who Should Wear the Crown? Elements of Power: Personal Influence. Elements of Power: Shaping Strategy. Elements of Power: Appointing the CEO and Top Management. Elements of Power: Monitoring and Controlling Performance. Achieving a Balance -- 5. Commitment and Depth Versus Detachment and Breadth. Different Types of Executive Directors. Outside, Nonexecutive Directors. Imbalances in Common Board Structures. The Most Serious Risk: The Runaway Train. Overcoming Executive Director Schizophrenia. Informing the Outside Directors. The Culture, the Climate, and the Habit. Summary -- 6. "Cozy Club" Versus Independent "Personalities," Factors that Build Collective Strength. The Chairman or Chairman/CEO. Culture and Climate. Board Member: Who Is on the Board? A Shared Purpose. Conclusion. Appendix -- 7. Dealing with Board Performance. Do Boards Do It? Experience with Evaluations and Results. The Elements of Performance. Criteria for Assessing Board Performance. Conducting a Board Performance Evaluation. Implementing Changes. Why Deal with Performance, It's so Complicated. Appendix -- 8. Imperatives for the Twenty-first Century. A Shift in the Portfolio: What Is in the Wagon? A Larger Portfolio: Economic Performance. Caring for the Roadbed: Don't Diminish the World ... Board Roles: Growing Intensity and a Need for Vision.
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"Throughout the world, corporations are experiencing the second major transition in corporate governance of this century. The nature of the relationship between the corporation and the rest of society is changing fundamentally. The corporate board has unique responsibilities during this transition, but as it tries to respond directors are faced with destabilizing paradoxes: resolving who is in control--management or the board, achieving critical judgment while maintaining detachment, and avoiding becoming either a cozy club or a collection of all-stars. Written for practitioners, this book addresses corporate governance and the role of the board of directors in multinational corporations." "Based on interviews with 71 directors serving on more than 500 boards in eight countries, this book highlights the nature of the challenges and suggests ways to analyze and confront them. This major international study compares the experiences of board members in Canada, Finland, France, Germany, Great Britain, the Netherlands, Switzerland, and Venezuela." "Based on practical experience, The Corporate Board will prove indispensable to executive and non-executive directors, corporate secretaries, bankers, institutional investors, policymakers, stock brokers, and specialists in mergers and acquisitions, as well as academics and stockholders concerned about corporate accountability."--Jacket.