18The Board in the Financial and Social Performance of Firms
Introduction
Since the 1980s, the corporate board has become an increasingly popular topic in academic research as well as in corporate practice. High-profile board failures such as American Apparel, Lehman Brothers, and Enron have put the corporate board systems in modern organizations under closer scrutiny, heightening calls for improved corporate governance. Moreover, each new cycle of high-profile board failures over the years has resulted in fresh rounds of debate and board enhancements. These debates about the efficiency of corporate governance range from controversy concerning performance pressures (Zhang and Gimeno, 2016), director and CEO remuneration ...
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