The relative power of ceos and boards of directors: Associations with corporate performance
基于文献提出CEO与董事会相对权力的四种类型（看守型、法定型、主动型、参与型），并用财富500强数据验证，发现不同类型在特征、决策风格和绩效贡献上存在显著差异，强势董事会与更优财务绩效相关。
Abstract A typology of the relative powers of the chief executive officer and the board of directors was derived based on the literature, highlighting four situations: Caretaker, Statutory, Proactive and Participative boards. Data collected from Fortune 500 Industrial and Fortune 500 Service corporations supported the typology. The results showed significant differences among the four board types in their characteristics, internal process, decision‐making styles, board effectiveness, and contribution to company performance. Powerful boards were associated with superior corporate financial performance.