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Abstract

Despite extensive scholarship on the subject of board control, the scandals of recent years suggest the need to revisit our assumptions - and our theories - regarding alternative board control mechanisms. This study uses an exploratory factor analysis comparing firms that successfully or unsuccessfully avoided governance failure and the onset of crisis to assess the consistency of board structures. Results indicate that there is some consistency among the successful firms, but that in genera/no common structural form can be linked to either success or failure. Thus, general rules cannot be relied upon, and a context specific approach to governance should be developed.

Volume

2

Issue

2

First Page

279

Last Page

288

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