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JOURNAL OF LEADERSHIP, ACCOUNTABILITY AND ETHICS
Board Power and Corporate Strategic Focus: A Model of Board
Impact on Firm Strategy
Author(s): Stephen V. Horner
Citation: Stephen V. Horner, (2011) "Board Power and Corporate Strategic Focus: A Model of Board Impact on Firm Strategy," Journal of Leadership, Accountability and Ethics, Vol. 8, Iss. 4, pp. 26 - 41
Article Type: Research paper
Publisher: North American Business Press
Abstract:
Decades of research on corporate boards of directors resulting in diverse and often inconsistent findings have not dampened scholarly interest in the topic. Instead, researchers attempt to more effectively model the board-firm relationship. One such approach considers the power of the board. Drawing on upper echelons thinking (Hambrick and Mason, 1984) and notions of managerial power (Finkelstein, 1992) this conceptual study develops the concept of board power in relation to corporate strategy. Based on a framework of organizational power, the study develops propositions predicting the impact of board characteristics on a key strategic outcome – the diversification of the firm.
