Board-Performance Linkage Revisited: A Relational Pluralistic Perspective

This paper seeks to shed light on current corporate governance research by paying nuanced attention to latent board characteristics and obtaining a more comprehensive understanding of the board-performance relationship. I adapt and develop a relational pluralistic view of the board to tactfully incorporate important latent board characteristics, while at the same time, builds upon existing dominating theoretical frameworks such as agency theory, resource dependence theory, and upper echelons theory. Using a more inclusive perspective via a relational lens also provides a much needed response to address the lack of consensus about the relationship between key board characteristics and firm performance. The propositions in this study have potential significance to the literature on board and performance linkage, and could steer future research towards a more interdisciplinary approach to include important theories that were overlooked.