Alessandro Zattoni|Francesca Cuomo
How Independent, Competent and Incentivized Should Non?executive Directors Be? An Empirical Investigation of Good Governance Codes
Parthenope University of Naples|Bocconi University|Parthenope University of Naples
commonly held conviction among governance scholars practitioners increasing number nonexecutive directors may beneficial effects board practices view gained momentum wave scandals given relevance issue governance studies practices aim paper investigate independent competent incentivized nonexecutive directors according governance scholars board best practices answer question conducted review literature nonexecutive directors collected corporate governance codes developed worldwide end 2005 made comparative analysis recommendations independence competencies incentives nonexecutive directors results show nonexecutive directors independence commonly recommended governance practice meaning differs widely among countries ii nonexecutive directors competencies incentives considered governance issue regulated detail iii agency theory search appropriate board demography tend dominate recommendations governance literature codes findings implications research practice