Debunking the myths of board independence

It's long been assumed that boards with a majority of independent directors are better able to protect shareholder interests, but research shows that such board composition destroys shareholder value and performance.

Last year two academics from the University of NSW stirred some controversy (and provoked a lot of thought) with a research paper that didn’t just question the conventional wisdom about the virtue of having a majority of independent directors on boards, but attacked it.

A more focused version of that paper comes to the same conclusions.

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