The monitoring model of the board of directors is influential worldwide despite being criticized from several perspectives. This article will examine the multi-dimensional roles—which include not only its monitoring role but also its role as a creator of synergistic effects—of the board from...

Corporate governance has been a hot issue across the world, especially since the Enron scandal and the Lehman shock. The Anglo-Saxon model (A-form), which focuses on monitoring management to maximize shareholder value through mechanisms such as hostile takeovers and independent directors, is...