Corporate Governance and Leadership
The Board as the Nexus of Leadership-in-Governance
Elements in Corporate Governance Series

This Element deals with leadership and governance of corporations from the point of view of the board. We expand our understanding of board leadership by focusing on the modern company as a legal person comprised of a capital fund and the relationships among directors, shareholders, management and stakeholders. We propose a model which integrates insights from the fields of leadership and corporate governance and establishes a theoretical link illustrated by empirical findings in three intersections: team leadership on the board, the chair's leadership of the board, and strategic leadership by the board. We maintain this integrative model provides a powerful means to further an understanding of the board as the nexus of leadership and governance. We close this Element by identifying the new research directions that our integrative model opens up. We also identify the implications for practice for those who either serve on boards or provide support to them.

1. Introduction; 2. Our work of integrating knowledge in researching boards; 3. What is a company? A view through a legal lens; 4. The role of people in the legal person; 5. The board as a nexus of relationships; 6. How boards exercise leadership; 7. Leadership in governance; 8. Conclusion.