This paper contributes to the timely debate on research into boards and their effectiveness by focusing on context, process and time, which are crucial to understanding board dynamics. It also explores key principles of board process research, and advocates the need to strengthen its theoretical and methodological foundations in order to challenge the analytically particular assumptions of agency theory. The paper concludes that there is still much more to be researched in this area and encourages work that explores variation in board process and director effectiveness in different organizational contexts, as well as seeking to go beyond the board to address their impact and effectiveness in the broader organizational and external context.
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Pye et al. (2005) studied this question.
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