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Corporate board committees and corporate outcomes: an international systematic literature review and agenda for future research

Corporate board committees and corporate outcomes: an international systematic literature review and agenda for future research
Corporate board committees and corporate outcomes: an international systematic literature review and agenda for future research

This paper comprehensively reviews the current body of international accounting literature regarding advisory/monitoring committees and corporate outcomes. Specifically, it synthesizes, appraises, and extends current knowledge on the (a) theoretical (i.e., economic, accounting/corporate governance, sociological and socio-psychological) perspectives and (b) empirical evidence of the observable and less visible attributes at both the individual and committee levels and their link with a wide range (financial/non-financial) of corporate outcomes. Using the systematic literature review method, 304 articles from 59 journals in the fields of accounting and finance that were published between January 1992 and December 2018 are reviewed. The main findings are as follows. First and theoretically, agency theory is the most dominant applied theory/studies with no application of theory at all (descriptive), while the application of integrated theoretical frameworks is lacking in the reviewed articles. Secondly, the existing empirical evidence focusses excessively on (a) monitoring instead of advisory committees and (b) observable rather than less visible committee attributes. Thirdly, scarcity of cross-country studies along with methodological limitations relating to measurement inconsistencies, insufficiency of variables, and dominance of quantitative studies, among others, are identified. Finally, promising future research avenues are outlined.

Accounting, advisory and monitoring roles, corporate board subcommittees, corporate governance, corporate outcomes
0020-7063
Alhossini, Mohammed Abdulaziz M
71ffd7dc-3d4e-4730-9124-cc5dec36308b
Ntim, Collins
1f344edc-8005-4e96-8972-d56c4dade46b
Zalata, Alaa
0fc2c56d-97ad-44ce-ab31-63ca335dcef6
Alhossini, Mohammed Abdulaziz M
71ffd7dc-3d4e-4730-9124-cc5dec36308b
Ntim, Collins
1f344edc-8005-4e96-8972-d56c4dade46b
Zalata, Alaa
0fc2c56d-97ad-44ce-ab31-63ca335dcef6

Alhossini, Mohammed Abdulaziz M, Ntim, Collins and Zalata, Alaa (2021) Corporate board committees and corporate outcomes: an international systematic literature review and agenda for future research. The International Journal of Accounting, [2150001]. (doi:10.1142/S1094406021500013).

Record type: Article

Abstract

This paper comprehensively reviews the current body of international accounting literature regarding advisory/monitoring committees and corporate outcomes. Specifically, it synthesizes, appraises, and extends current knowledge on the (a) theoretical (i.e., economic, accounting/corporate governance, sociological and socio-psychological) perspectives and (b) empirical evidence of the observable and less visible attributes at both the individual and committee levels and their link with a wide range (financial/non-financial) of corporate outcomes. Using the systematic literature review method, 304 articles from 59 journals in the fields of accounting and finance that were published between January 1992 and December 2018 are reviewed. The main findings are as follows. First and theoretically, agency theory is the most dominant applied theory/studies with no application of theory at all (descriptive), while the application of integrated theoretical frameworks is lacking in the reviewed articles. Secondly, the existing empirical evidence focusses excessively on (a) monitoring instead of advisory committees and (b) observable rather than less visible committee attributes. Thirdly, scarcity of cross-country studies along with methodological limitations relating to measurement inconsistencies, insufficiency of variables, and dominance of quantitative studies, among others, are identified. Finally, promising future research avenues are outlined.

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TIJA Accepted Mansucript 30 May 2020 - Accepted Manuscript
Restricted to Repository staff only until 27 January 2022.
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More information

Accepted/In Press date: 30 May 2020
e-pub ahead of print date: 27 January 2021
Published date: 27 January 2021
Additional Information: Publisher Copyright: © 2021 Board of Trustees, Vernon K. Zimmerman Center, University of Illinois. Copyright: Copyright 2021 Elsevier B.V., All rights reserved.
Keywords: Accounting, advisory and monitoring roles, corporate board subcommittees, corporate governance, corporate outcomes

Identifiers

Local EPrints ID: 441095
URI: http://eprints.soton.ac.uk/id/eprint/441095
ISSN: 0020-7063
PURE UUID: 55eda29f-98a8-4b9c-bbe6-78f1db85027a
ORCID for Mohammed Abdulaziz M Alhossini: ORCID iD orcid.org/0000-0001-8523-3265
ORCID for Collins Ntim: ORCID iD orcid.org/0000-0002-1042-4056
ORCID for Alaa Zalata: ORCID iD orcid.org/0000-0003-2018-4313

Catalogue record

Date deposited: 01 Jun 2020 16:30
Last modified: 26 Nov 2021 03:17

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