ABSTRACT
Boards are deemed an essential component of the corporate governance of firms given their monitoring, control and supervisory functions. Despite the composition of boards, firms still undergo crises and in many circumstances fail. Given perennial firm failures despite regulations, there has been an increased focus on the corporate governance practices of firms especially as it is seen as a mechanism that can guarantee the long-term going concern of a firm. As a result, many scholars have attempted to deconstruct the role of boards. This chapter examines the relevance of the board and the attendant differences in board structures and practices, taking into consideration the different governance models prevalent in different institutional contexts. The chapter also provides some insights into relevant theories that guide corporate governance and board behaviour in many climes.
