Corporate boards

Abstract

This chapter aims to set the ground, providing a brief definition of the corporate governance according to worldwide practices and focusing on the role and the functions of the board of directors. To reach this goal, a punctual review of the different theoretical frameworks coping with this topic is provided, putting in evidence the main differences as well as the principal points in common. Specifically, the agency theory, the stakeholder theory, the stewardship theory, the resource dependence theory, and the institutional theory are analysed. Moreover, the role of BoDs is analysed together with the features and the overview of "good" corporate governance practices according to existing literature and practice.