e-journal
Board Composition Beyond Independence: Social Capital, Human Capital, and Demographics
Board composition is a critical element in the ability of the board to impact firm outcomes.
While much of this research has focused on size and independence, there is growing literature
that investigates the composition of directors’ demography, human capital, and social capital.
The purpose of this article is to synthesize this diverse literature. The authors first review the
literature on board demographics, human capital, and social capital composition research. In
doing so, they highlight the theoretical and methodological approaches utilized. Finally, they
suggest avenues for future research that can advance our understanding of the effects of board
composition.
Keywords: boards of directors; macro topics; demographics and composition; decision making;
micro topics
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