Critically evaluate the role of non-executive directors in corporate governance and firm performance
1) Critically discuss a theoretical framework that you believe represents the most appropriate explicit framework for the chosen corporate governance mechanism.
2) Briefly describe the background to the creation of the mechanism and the key UK governance documents regarding to the mechanism.
3) Critically evaluate the roles and the effectiveness of the mechanism, drawing on theories, academic research findings (3 academic papers at a minimum), real life examples (a minimum of one case, news or/and other sources).
4) Make your own recommendations in terms of how the mechanism could work better.
5) Ideas and arguments should be logically laid out.
6) Include references
Several theories that you can choose from, e.g. agency theory; stakeholder theory; stewardship theory, resource dependence theory etc.
Cover what the theory is about, the usefulness and criticisms of the theory, and how it explains the chosen mechanism as a governance mechanism.