GARG Sam, CHO Jaeyoung, LEE Jangwoo
This study develops and tests the theoretical model that examines how the board’s composition and leadership structure relates to competitive aggressiveness and, ultimately, performance outcomes in the context of emerging economy firms where the separation of ownership and control is not the central issue. Analyzing a sample of 570 listed Korean firms from 1998 to 2017, we find that more independent directors and the separated role of a firm’s CEO and chairperson help improve the corporate ability and tendency to identify and seize opportunities for pursuing competitive aggressiveness and therefore to link temporal competitive advantages that yield superior performance outcomes. The important implications of these findings are discussed.
CHO, J., GARG, S. et LEE, J. (2021). Opening the Black Box: Boards of Directors, Competitive Aggressiveness, and Firm Performance. Academy of Management Proceedings, 2021(1), pp. 12953.