5.6 Summary

Empirical evidence on the transformation and convergence of boards is still limited. Although a process of board model transformation seems to be inevitable, systematic research on developments in corporate boards of directors is still underdeveloped. To contribute to the corporate governance literature, this chapter presents a formal framework on board model transformation and convergence. Seen from a conflict perspective of board organization, international developments suggest that one-tier boards are under pressure to transform towards a more independent board model. Although not promoted by reformers, proponents of a consensus perspective of board organization seek more duality in two-tier boards. As such, the transformation of board models could be a two-directional process.

Part II of this research further elaborates on the transformation and convergence of board models. In chapter six, changes in one-tier boards of the largest listed corporations are explored in more detail in the US. Chapter seven concentrates on developments in one-tier boards in the UK. To reveal developments in the structure and the composition of two-tier boards, chapter eight concentrates on changes in the attributes of supervisory boards of listed corporations in the Netherlands.

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