Special Issue Call for Papers: Board Dynamics in Complex Times

Guest Editors (Alphabetical Order):

Svetlana Khapova (VU Amsterdam, The Netherlands)

Ryan Krause (University of Iowa, USA)

Michael C. Withers (University of Notre Dame, USA)

Alessandro Zattoni (LUISS University, Italy)

JMS Editor:

Dimitrios Georgakakis (University of Leeds, UK)

BACKGROUND

Boards of directors are central in corporate governance and exert considerable influence over strategic direction, organizational legitimacy, and societal outcomes. Yet, in an increasingly complex world, characterized by heightened geopolitical tensions, technological disruptions, social and environmental demands, and institutional uncertainty, the board’s role is evolving rapidly. These “complex times” challenge prevailing assumptions about governance and underscore the need to reexamine how boards function, deliberate, and lead under conditions of ambiguity, plurality, and change.

Despite the recognized importance of boards, most management research has conceptualized them through a structural and compositional lens. Dominant perspectives – such as agency theory, stewardship theory, and resource dependence theory – have produced a robust body of work on the effects of board characteristics (such as independence, size, and CEO duality) on firm performance and governance quality (Boivie et al., 2021; Hillman, Withers, & Collins, 2009; Krause, Semadeni & Cannella, 2014). However, the emphasis on demographic and structural proxies has largely obscured the behavioural, cognitive, and relational dimensions of board functioning. Meta-analyses and systematic reviews have shown that this stream of research yields inconsistent and often inconclusive results (Dalton et al., 1998; Daily, Dalton, & Cannella, 2003; Huse et al., 2011), leaving the mechanisms through which boards influence organizational outcomes under-theorized.

Seminal works have called for opening the “black box” of the boardroom (Forbes & Milliken, 1999; Hambrick, Werder, & Zajac, 2008; Huse et al., 2011), yet empirical studies of intra-board dynamics remain relatively scarce. This is particularly problematic considering the expanded and evolving responsibilities boards are facing. Beyond fiduciary oversight, boards are increasingly expected to provide strategic counsel on issues such as environmental and social governance, digital transformation, inclusion and diversity, and organizational ethics – often amid volatile and high-stakes conditions (Chen et al., 2024; Orazalin, Ntim, & Malagila, 2024; Reihlen et al., 2022; Zattoni & Pugliese, 2021). Boards must navigate competing stakeholder demands, ambiguous information, time pressure, and contested values – all while preserving legitimacy, cohesion, and effectiveness.

This Special issue (SI) aims to encourage scholars to focus on board internal processes and dynamics to improve our collective understanding of board decision-making and, ultimately, board’s impact on the organization as a whole.

CALL FOR PAPERS

This SI calls for research on the complex interactions, relationships, dynamics, and processes among members of a company’s board of directors that influence decision-making and governance, particularly as they unfold in times of heightened uncertainty, ambiguity, and transformation. It also calls for research examining how board dynamics and interfacing processes are influenced by internal and external actors – such as top managers, middle managers, investors, and stakeholders. It encompasses aspects such as:

• Interfaces between boards and other internal and external actors: The interactions and influence of some internal actors—such as the top management team, the CEO, and the board chair—as well as external actors—such as stakeholders, investors, and regulators—on board dynamics, organizational governance, and outcomes (Georgakakis et al., 2022; Simsek et al., 2018; Van Doorn et al., 2022).

• Interpersonal Relationships: The nature of interactions and relationships between board members, including levels of trust, respect, and communication styles, as well as the key role of board chair (e.g., Boyd, Haynes, & Zona, 2011; Krause, 2017; Krause, Withers, and Waller, 2024; Pugliese, Nicholson, & Bezemer, 2015).

• Decision-Making Processes: The methods and procedures used by the board to make decisions, including how information is shared and how consensus is reached (Atanasiu, Ruotsalainen, & Khapova, 2023; Krause, Withers, & Waller, In Press; Ravasi & Zattoni, 2006).

• Power and Influence: The distribution of power and influence among board members, which can be affected by factors such as expertise, seniority, and personality (Pettigrew & McNulty, 1995).

• Conflict and Collaboration: The presence and management of conflicts among board members, as well as their ability to collaborate effectively within the board and with the executive group (e.g., Boivie et al., 2021; Ma & Khanna, 2016; Veltrop, Bezemer, Nicholson, & Pugliese, 2021).

Despite the pivotal role boards play, there remains a noticeable scarcity of research within organization and management studies focusing on the social, behavioural, and cognitive dynamics within the boardroom (Forbes & Milliken, 1999; Zattoni, Gnan, & Huse, 2015). If the board sets the tone of the rest of the organization, then its dynamics, decision-making processes, and internal interactions can significantly influence the organizational culture, strategic direction, and performance, making it critical to understand not just the structural but also the human and relational aspects of boards. In addition, since board dynamics are also influenced by other internal and external actors with whom boards interact (such as top managers, shareholders, investors, and other stakeholders), understanding the impact of such interactions is key to advancing knowledge in this area.

In sum, the special issue “Board Dynamics in Complex Times” invites articles that advance the literature on boards of directors by exploring the different aspects of board dynamics and interfaces with various actors, including how some antecedents may shape board dynamics, how internal processes may affect board decision-making, how internal workings may influence board processes, how board dynamics may impact various board-level or company-level outcomes, and how these focal relationships can be influenced by the interaction between boards and other actors (e.g., Boyd, Haynes & Zona, 2011; Solarino & Boyd, 2023).

AIMS, SYNTHESIS AND CONTRIBUTION OF THE SPECIAL ISSUE

This SI aims to be a platform to advance board research and springboard a new wave of board studies. Together with the above, we are particularly interested in the following topics:

Antecedents to board dynamics: Board selection and recruitment; Shareholders’ or stakeholders’ influence on board dynamics; Interpersonal relationships; Relationship between board and CEO; Interfaces between the board and other influential governance actors.

Board and its dynamics: Board culture’s influence on processes; Chair leadership style’s influence on internal processes; Board member motivation.

Board outcomes and other topics: Board dissent and board effectiveness; CEO dismissal; New sources of data; New theories.

We welcome methodological pluralism and studies using survey, archival, qualitative, and innovative methodological approaches and sources of data. We also welcome conceptual papers that help rethink the board literature. Literature reviews will not be considered for this Special issue.

A synthesis of the accepted papers will facilitate the development of a nuanced theorizing around the behavioural nature of board processes and outcomes. In line with JMS emphasis on theory development, the introduction of the Special Issue will provide a framework that synthesizes accepted papers and offers a new perspective in this area, so to guide future development.

Note: The Special Issue is dedicated to the memory of Angelo Solarino. Angelo was a prominent governance scholar who contributed to the Journal of Management Studies both as an author and an editorial board member. He played a key role in shaping this proposal before his untimely passing in late 2024.

SUBMISSION PROCESS AND DEADLINES 

• Submission deadline: 28 February 2027
• Submissions should be prepared using the JMS Manuscript Preparation Guidelines: http://www.socadms.org.uk/wp-content/uploads/JMS-Manuscript-Preparation-Guidelines.pdf
• Manuscripts should be submitted via the JMS ScholarOne system (https://mc.manuscriptcentral.com/jmstudies).
• Articles will be reviewed according to the JMS double-blind peer review process.
• We welcome informal enquiries relating to the Special Issue, proposed topics, and potential fit with the Special Issue objectives. Please direct any questions on the Special Issue to the Corresponding Editor: azattoni@luiss.it

Special issue events

Information Sessions: The editorial team will host information sessions at AOM, EURAM, and ICGS conferences in 2026 to launch the special issue call. Prospective contributors can ask questions about the call.

Post-submission Workshop: The editorial team will organize a special issue in-person revision workshop in Summer 2027 (exact dates, times, and place TBA). Authors who receive a “revise and resubmit” (R&R) decision on their manuscript will be invited to attend this workshop.

Participation in the information sessions or workshop does not guarantee acceptance of the paper in the Special Issue and attendance is not a prerequisite for publication.

REFERENCES

Atanasiu, R., Ruotsalainen, R. and N Khapova, S. (2023). ‘A simple rule is born: How CEOs distil heuristics’. Journal of Management Studies, 60, 1064-1104.

Boivie, S., Bednar, M. K., Aguilera, R. V. and Andrus, J. L. (2016). ‘Are boards designed to fail? The implausibility of effective board monitoring’. Academy of Management Annals, 10, 319-407.

Boivie, S., Withers, M. C., Graffin, S. D. and Corley, K. G. (2021). ‘Corporate directors’ implicit theories of the roles and duties of boards’. Strategic Management Journal, 42, 1662–1695.

Boyd, B. K., Haynes, K. T. and Zona, F. (2011). ‘Dimensions of CEO–board relations’. Journal of Management Studies, 48, 1892-1923.

Chen, G., Hsu, P. H., Lee, Y. T. and Mack, D. Z. (2024). ‘How Deep‐Level and Surface‐Level Board Diversity, Formal and Informal Social Structures Affect Innovation’. Journal of Management Studies, https://onlinelibrary.wiley.com/doi/10.1111/joms.13040

Dalton, D. R., Daily, C. M., Ellstrand, A. E. and Johnson, J. L. (1998). ‘Meta-analytic Reviews of Board Composition, Leadership Structure and Financial Performance’. Strategic Management Journal, 19, 269–290.

Daily, C. M., Dalton, D. R. and Cannella, A. A. (2003). ‘Corporate Governance: Decades of Dialogue and Data’. Academy of Management Review, 28, 371– 382.

Forbes, D. P. and Milliken, F. J. (1999). ‘Cognition and corporate governance: Understanding boards of directors as strategic decision-making groups’. Academy of Management Review, 24, 489-505.

Georgakakis, D., Heyden, M. L., Oehmichen, J. D. and Ekanayake, U. I. (2022). ‘Four decades of CEO–TMT interface research: A review inspired by role theory’. The Leadership Quarterly, 33, 101354.

Hambrick, D. C., Werder, A. v. and Zajac, E. J. (2008). ‘New directions in corporate governance’. Organization Science, 19, 381-385.

Hillman, A. J., Withers, M. C. and Collins, B. J. (2009). Resource dependence theory: A review. Journal of management, 35(6), 1404-1427.

Huse, M., Hoskisson, R., Zattoni, A. and Viganò, R. (2011). ‘New perspectives on board research: Changing the research agenda’. Journal of Management and Governance, 15, 5-28.

Krause, R., Semadeni, M. and Cannella Jr, A. A. (2014). CEO duality: A review and research agenda. Journal of Management, 40(1), 256-286.

Krause, R. (2017). ‘Being the CEO’s boss: An examination of board chair orientations’. Strategic Management Journal, 38, 697-713.

Krause, R., Withers, M. C. and Waller, M. J. (2024). ‘Leading the board in a crisis: Strategy and performance implications of board chair directive leadership’. Journal of Management, 50, 654-684.

Krause, R., Withers, M. C. and Waller, M. J. (In Press). ‘Reducing bias through board decision-making: An information-processing model of board decision synergy’. Academy of Management Review.

Ma, J. and Khanna, T. (2016). ‘Independent directors’ dissent on boards: Evidence from listed companies in China’. Strategic Management Journal, 37, 1547-1557.

Orazalin, N. S., Ntim, C. G. and Malagila, J. K. (2024). ‘Board sustainability committees, climate change initiatives, carbon performance, and market value’. British Journal of Management, 35, 295-320.

Pettigrew, A. and McNulty, T. (1995). ‘Power and influence in and around the boardroom’. Human relations, 48, 845-873.

Pugliese, A., Nicholson, G. and Bezemer, P. J. (2015). ‘An observational analysis of the impact of board dynamics and directors’ participation on perceived board effectiveness’. British Journal of Management, 26, 1-25.

Ravasi, D. and Zattoni, A. (2006). ‘Exploring the political side of board involvement in strategy: A study of mixed-ownership institutions’. Journal of Management Studies, 43, 1673-1704.

Reihlen, M., Schlapfner, J. F., Seeger, M. and Trittin‐Ulbrich, H. (2022). ‘Strategic venturing as legitimacy creation: The case of sustainability’. Journal of Management Studies, 59, 417-459.

Simsek, Z., Heavey, C. and Fox, B. C. (2018). ‘Interfaces of strategic leaders: A conceptual framework, review, and research agenda’. Journal of Management, 44, 280-324.

Solarino, A. M. and Boyd, B. K. (2023). ‘Board of director effectiveness and informal institutions: A meta‐analysis’. Global Strategy Journal, 13, 58-89.

Van Doorn, S., Heyden, M. L., Reimer, M., Buyl, T. and Volberda, H. W. (2022). ‘Internal and external interfaces of the executive suite: Advancing research on the porous bounds of strategic leadership’. Long Range Planning, 55, 102214.

Veltrop, D. B., Bezemer, P. J., Nicholson, G. and Pugliese, A. (2021). ‘Too unsafe to monitor? How board–CEO cognitive conflict and chair leadership shape outside director monitoring’. Academy of Management Journal, 64, 207-234.

Zattoni, A., Gnan, L. and Huse, M. (2015). ‘Does family involvement influence firm performance? Exploring the mediating effects of board processes and tasks’. Journal of Management, 41, 1214-1243.

Zattoni, A. and Pugliese, A. (2021). ‘Corporate governance research in the wake of a systemic crisis: Lessons and opportunities from the COVID-19 pandemic’. Journal of Management Studies, 58, 1405-1410.