HMC Business Consulting, LLC

Herbert M. Chain, MBA, CPA

Independent Director, Audit Committee Chair, SOX Financial Expert, Accounting and Auditing Professional, Professor,  Consultant

Sound advice based on experience



Sending boards back to school? The effects of professors in the boardroom.

Posted on November 14, 2015 at 5:40 PM

Richard Leblanc of Boards & Advisors found and posted an academic article on LinkedIn, “Professors in the Boardroom and Their Impact on Corporate Governance and Firm Performance,” by Bill Francis, Iftekhar Hasan and Qiang Wu ( The authors’ research question was essentially whether having professors on a corporate board would enhance the performance of the board and hence the company. Specifically, they concluded that “the presence of academic directors is associated with higher acquisition performance, higher number of patents and citations, higher stock price informativeness, lower discretionary accruals, lower CEO compensation, and higher CEO forced turnover-performance sensitivity.”


In reading the article, it struck me that there are actually broader considerations at play here. This research is, above all else, a study resulting from the call for greater board diversity. The premise is that the skillsets and thought processes of professors positively add to board dynamics and discussions. Inherent in that consideration is that they bring a new dimension to the process – one free of past biases and groupthink tendencies. This same argument can be made as regards other groups (ethnic, gender, cultural, geographic, etc.).


Intuitively, I think most of us agree that having differing viewpoints and perspectives makes for more dynamic, broader and fruitful discussions and better conclusions. I often thought during my days at Deloitte that when we brought into a room a group of professionals with different perspectives honed by experience, training, culture and background, we would generally come to the right, correct decision – regardless of the issue at hand. This is quite similar, albeit focusing on the contributions of a different group.


As the board diversity discussion (and imperative) proceeds and matures, intuitive, legal and ethical considerations will be supplemented (and driven) by academic research. While correlation and causality in research will always be an issue, and must be carefully analyzed in reaching supportable conclusions, adding research to intuition cannot be a bad thing.


Categories: None

Post a Comment


Oops, you forgot something.


The words you entered did not match the given text. Please try again.


Reply jordan 11
9:05 PM on December 7, 2022 
I and my buddies came reading the good guidelines located on your web site then then came up with a horrible suspicion I had not expressed respect to the web blog owner for them. Most of the guys were definitely certainly glad to read through them and have now in truth been enjoying these things. Thanks for truly being indeed accommodating and for using this sort of quality issues millions of individuals are really needing to be informed on. My very own sincere regret for not expressing appreciation to earlier.
jordan 11
Reply goyard outlet
8:55 PM on December 7, 2022 
I must show my thanks to you for bailing me out of this particular trouble. Because of scouting throughout the online world and meeting tips that were not helpful, I figured my life was gone. Existing devoid of the strategies to the problems you have resolved by means of your entire write-up is a critical case, as well as those that could have in a wrong way affected my entire career if I had not noticed your site. Your personal knowledge and kindness in taking care of all areas was excellent. I am not sure what I would've done if I hadn't come upon such a thing like this. I can also now look forward to my future. Thanks for your time so much for this high quality and effective guide. I won't think twice to suggest your web blog to anyone who should receive tips about this area.
goyard outlet
Reply supreme hoodie
8:51 PM on December 7, 2022 
My wife and i felt so thankful when Ervin managed to do his preliminary research because of the ideas he received in your web page. It is now and again perplexing just to find yourself giving freely helpful tips that many others have been selling. And we all acknowledge we need the writer to thank for that. The entire illustrations you've made, the easy website navigation, the friendships you make it possible to create - it's got most fabulous, and it's facilitating our son and our family reckon that the matter is interesting, and that's exceedingly essential. Many thanks for the whole thing!
supreme hoodie
Reply Jimenrog
8:50 PM on December 7, 2022 
buy citalopram 20 mg online
Reply cheap jordans
8:47 PM on December 7, 2022 
I intended to create you one very small observation to finally give thanks again just for the remarkable principles you have shared in this case. It is simply remarkably generous with people like you giving without restraint just what many people could have offered for an e book to help make some profit for their own end, principally given that you could have tried it if you ever decided. Those strategies additionally worked to be the easy way to be sure that most people have the same desire much like my personal own to know the truth a whole lot more on the topic of this matter. I am sure there are thousands of more pleasant situations ahead for folks who browse through your blog post.
cheap jordans
Reply golden goose sneakers
8:32 PM on December 7, 2022 
I and also my friends have been studying the best strategies found on your website then all of the sudden I had a horrible suspicion I never expressed respect to the web site owner for those strategies. These young boys were happy to read them and now have extremely been loving them. Thanks for simply being very thoughtful as well as for having such terrific resources most people are really eager to be aware of. Our sincere regret for not expressing gratitude to sooner.
golden goose sneakers
Reply nike sb
8:27 PM on December 7, 2022 
Needed to put you the tiny observation to be able to give many thanks as before over the superb things you have featured on this website. It was so remarkably generous of you to allow unhampered what many of us would have sold for an e book in making some profit on their own, especially now that you might well have done it if you decided. The good ideas in addition worked as a great way to know that many people have similar fervor the same as my personal own to know the truth a good deal more pertaining to this problem. I am sure there are some more pleasant times ahead for folks who discover your site.
nike sb
Reply supreme outlet
8:27 PM on December 7, 2022 
I precisely wished to say thanks yet again. I am not sure the things I might have gone through without the entire aspects discussed by you regarding such subject. Certainly was the scary difficulty in my position, however , observing the professional style you processed the issue made me to leap over fulfillment. Now i'm happier for your advice and even trust you really know what an amazing job you are always accomplishing educating the mediocre ones all through your blog post. Probably you haven't come across any of us.
supreme outlet
Reply jordan retro
8:24 PM on December 7, 2022 
My husband and i have been now comfortable Jordan could conclude his studies by way of the ideas he obtained out of the web page. It is now and again perplexing just to be freely giving tips and tricks which others could have been selling. And we all discover we've got you to thank because of that. The most important illustrations you have made, the straightforward web site menu, the relationships you help instill - it is everything excellent, and it's helping our son in addition to us understand the content is satisfying, and that's incredibly indispensable. Many thanks for the whole lot!
jordan retro
Reply yeezy 700
8:23 PM on December 7, 2022 
I have to show appreciation to the writer just for rescuing me from this trouble. Because of scouting through the internet and meeting recommendations that were not powerful, I believed my life was well over. Being alive devoid of the answers to the issues you have sorted out through your entire short article is a critical case, and the ones that might have adversely damaged my entire career if I hadn't discovered your website. Your personal know-how and kindness in controlling all the details was vital. I don't know what I would've done if I had not come upon such a subject like this. I can at this time look ahead to my future. Thanks for your time very much for the skilled and sensible guide. I won't be reluctant to refer your web page to any individual who wants and needs tips on this area.
yeezy 700
Reply goyard handbag
8:15 PM on December 7, 2022 
I wanted to make a simple word to be able to appreciate you for all of the fantastic pointers you are writing at this website. My considerable internet search has at the end been paid with excellent facts and strategies to exchange with my friends and family. I 'd believe that we site visitors actually are really lucky to live in a very good network with so many perfect people with interesting principles. I feel quite happy to have discovered your web page and look forward to many more fun moments reading here. Thank you once again for a lot of things.
goyard handbag
Reply supreme clothing
8:09 PM on December 7, 2022 
I happen to be commenting to make you understand what a fabulous experience my friend's daughter encountered using yuor web blog. She noticed plenty of pieces, not to mention how it is like to possess a marvelous helping mindset to get most people effortlessly master specified extremely tough issues. You really did more than her desires. Thanks for offering the useful, dependable, informative and even easy tips about the topic to Jane.
supreme clothing
Reply bape shoes
7:24 PM on December 7, 2022 
I am only writing to let you understand of the extraordinary discovery my child found going through yuor web blog. She realized a wide variety of details, which included what it's like to have a very effective coaching character to have other people with no trouble know selected hard to do topics. You truly exceeded our expectations. Thanks for rendering those warm and friendly, trustworthy, revealing and also fun tips on the topic to Gloria.
bape shoes
Reply surpreme
7:22 PM on December 7, 2022 
Thank you so much for giving everyone an extremely spectacular possiblity to check tips from this site. It can be very cool and packed with amusement for me and my office co-workers to visit your web site at minimum 3 times per week to read the new stuff you have got. And definitely, I am just certainly amazed concerning the unique knowledge you give. Some 2 ideas in this post are undeniably the most beneficial we have all had.
Reply GeraldGetry
7:15 PM on December 7, 2022 
???? ??????? online
Reply off white shoes outlet
7:12 PM on December 7, 2022 
My spouse and i have been now fulfilled when Edward managed to finish up his investigation through the entire ideas he acquired from your very own web pages. It's not at all simplistic just to possibly be freely giving strategies which others might have been selling. We really do know we now have the writer to appreciate for this. Most of the explanations you have made, the simple web site menu, the relationships you can make it easier to engender - it is mostly great, and it's assisting our son in addition to our family imagine that the subject is fun, and that is pretty important. Thank you for the whole thing!
off white shoes outlet
Reply yeezy boost 350
6:59 PM on December 7, 2022 
I would like to show my affection for your generosity in support of those people who should have assistance with this particular niche. Your real commitment to getting the message all around ended up being rather practical and has consistently enabled girls like me to get to their dreams. This important guideline means a great deal a person like me and still more to my fellow workers. Regards; from everyone of us.
yeezy boost 350
Reply jordan 13
6:46 PM on December 7, 2022 
I simply wanted to send a small message to be able to thank you for these awesome concepts you are placing at this website. My prolonged internet investigation has finally been recognized with awesome suggestions to talk about with my close friends. I would claim that we visitors are definitely lucky to be in a perfect place with many brilliant people with interesting guidelines. I feel truly privileged to have come across your entire webpages and look forward to plenty of more thrilling minutes reading here. Thanks a lot once more for all the details.
jordan 13
Reply longchamp handbags
6:43 PM on December 7, 2022 
I needed to create you a bit of word to finally give many thanks over again for those incredible advice you have shared in this case. It is wonderfully open-handed of you to grant publicly all many people could possibly have sold for an ebook in making some profit for themselves, notably since you could possibly have tried it if you ever considered necessary. Those things likewise served like the easy way to recognize that other individuals have a similar fervor just like my very own to grasp somewhat more in regard to this matter. I'm sure there are many more fun situations in the future for those who read carefully your blog post.
longchamp handbags
Reply bape
6:33 PM on December 7, 2022 
I must show my gratitude for your kindness for those who really need assistance with your topic. Your real commitment to getting the message throughout has been incredibly informative and has continuously allowed those much like me to achieve their dreams. Your personal warm and helpful instruction can mean a lot a person like me and substantially more to my colleagues. Thanks a ton; from each one of us.