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What is the role of board of directors in managing the company?

The research team of International Laboratory of Intangible-driven Economy at HSE, Perm has received the RFBR grant for preparing and publication review articles.

IDLab researchers Marina Zavertiaeva, Dmitry Kirpishchikov and Professor Felix Lopez Itturiaga have received a grant from the RFBR for the competition for financial support for the preparation and publication of scientific review articles.

Since 2014, Felix Iturriaga and Marina Zavertiaeva have been working together in the framework of IDLab. They are investigating the influence of the human capital on companies’ competitiveness, focusing on the corporate governance topic. Their latest research focuses on corporate governance in Russian companies. Dmitry Kirpishchikov joined the team in 2019. He is currently studying at Doctoral School of Economics at HSE University-Perm and planning to explore influence of boards on the development of companies as a part of his thesis research.

Recently the project team has seen an increasing interest in board-related issues from both researchers and practitioners. For example, in Russia the Association of Independent Directors is forming the diversification committee to discuss practices for creating the most effective board structure. Scopus and Web of Science show a continuous growth of scientific publications related to this topic.

However, there is no review that would aggregate the main results, highlight trends, and describe current issues considered in empirical works on developing markets.

The project will focus on the main theories, explaining the role of boards in company management, including those that are especially important in emerging markets. Moreover, the main results of such studies are going to be described as well.

The study will examine issues related to board diversification - gender, age, national balance, share of independent directors, average experience, employment of directors (busyness), board connections with other companies and influential parties, optimal size, etc.

As a result, it is planned to highlight the core issues related to boards of directors in developing markets.