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2 results

  • Group Polarization in Board Decisions about Strategic Change: Evidence from Chinese Publicly Listed Companies (2008–2018)

  • Ming Zhang, Xufei Ma, Weihong Chen, Hailin Lan
  • Journal:
    Management and Organization Review / Volume 19 / Issue 2 / April 2023
    Published online by Cambridge University Press:
    30 March 2023, pp. 201-232
    • Article
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  • Strategic management scholars have shown increasing interest in explaining strategic change from the perspective of cognitive bias. However, most studies focus on individual cognitive bias but pay little attention to group cognitive bias. This study introduces a typical group cognitive bias (group polarization) to explain strategic change decisions made by the board of directors. Following the theory of group polarization, we argue that, when the average prior strategic change experienced in performance decline by board directors is relatively high (or low), the focal strategic change in performance decline will become even higher (or lower). We further contend that the proportion of female directors and board versus CEO power as the contingencies can mitigate this group polarization effect. Our hypotheses were strongly supported by a longitudinal sample of Chinese publicly listed companies during 2008–2018. The study's framework and findings contribute to the contextualization of social psychology research on group polarization in the study of board's strategic decision-making.

  • 3 - Board Gender Diversity

  • Ernest Lim, National University of Singapore
  • Book:
    Sustainability and Corporate Mechanisms in Asia
    Published online:
    13 March 2020
    Print publication:
    02 April 2020, pp 103-141

  • Summary

    It has been observed that ‘between 2008 and 2015 32 countries implemented 42 boardroom diversity policies in the form of legal quotas for listed or state-owned firms (8 and 5 countries respectively), governance code amendments (26 countries) and disclosure requirements (4 countries)’.1 India and Malaysia are classified among the countries that have quotas for listed firms.