What is it about?
We develop a conceptual model of information exchange in boardrooms between managers and non-executive directors using Ikujiro Nonaka’s knowledge conversion framework.
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Why is it important?
Prior research generally assumes information asymmetry between managers and non-executive directors. Our conceptual model is more nuanced, and considers the processes of information sharing within boards of directors. We conclude our paper with an extensive agenda for future research based on ideas from our conceptual model.
Perspectives
I teach a course on audit committees to company directors. I include in that course material from the academic literature on information asymmetry. John Redmond, company secretary for many years of one of Ireland's largest organisations, the Electricity Supply Board, was a student in my class. John was not convinced by the information asymmetry argument, as it does not reflect his experience of the boardroom. John's view of the boardroom as a place to share rather than withhold information was the motivational spark for this paper.
Professor Niamh M. Brennan
University College Dublin
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This page is a summary of: Accountability processes in boardrooms, Accounting Auditing & Accountability Journal, January 2016, Emerald,
DOI: 10.1108/aaaj-10-2013-1505.
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