A time for boards to act

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According to a new survey, directors see good operations and effective execution of key board activities linking with stronger self-reported performance, suggesting that value can flow from improving the way boards work.

One of the more tantalizing—and elusive—questions in corporate governance has long been what effect the board of directors has on financial performance. In a McKinsey Global Survey of more than 1,100 directors, we attempted to test the link between the quality of board operations and boards’ effectiveness at their core activities with self-reported financial performance relative to peers. Indeed, the results suggest that boards with better dynamics and processes,

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