Review of the literature on board committees: taking stock and looking ahead

Kaczmarek, Szymon and Nyuur, Richard (2016) Review of the literature on board committees: taking stock and looking ahead. International Journal of Business Governance and Ethics, 11 (2). p. 89. ISSN 1477-9048

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Abstract

Committees on a board of directors are now subject to recommendations by regulations in practically all jurisdictions. At the same time, scholarly work on the topic has escalated since the mid-1990s. In this review article, we examine relevant literature on board committees of audit, compensation and nomination, as part of corporate governance research in general, over the period of 1988 to 2011. We observed an exponential growth in contributions over time, the majority of which can be attributed to management and accounting scholars. The audit committee is the most researched of all three committees, with the nomination committee being the least researched. An analysis of the literature generated a picture that included the following features: 1) the dominance of the agency theory; 2) a lack of other unifying theoretical frameworks; 3) a strong US-centrism; 4) the prevalence of quantitative research methods.

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