New Corporate Governance
Martin Hilb presents an innovative and integrated approach to the theory and practice of corporate governance. Central to this approach is a set of tools developed and tested by the author that can be used by boards of directors to provide effective strategic leadership and oversight to their organizations. The tools can be used in the selection, review, compensation, and development of board members, as well as in conducting board self-evaluations. This new approach to governance is based on four guiding principles: situational, strategic, integrated, and controlled. Together, these principles form the basis of an integrated approach to all major aspects of corporate governance. The main arguments in each section are supported by conceptual models, practical tools for boards, and case studies, making the book ideal for board members, senior executives, and postgraduates. This new edition has been updated throughout the book and includes a new chapter on mobile integrated board, management, and documentation information systems.
Board ViewsThe Thinking Board in the Age of AI
Boards today confront a paradox. On the one hand, they operate in an environment of radical complexity. On the other hand, directors remain human—bounded in their rationality, limited in their ability to process information, and prone to biases that shape judgment in systematic ways. Artificial intelligence (AI) promises to change this equation. By extending the reach of human cognition, they enable boards to move from a world of structural information asymmetry toward one of intelligence symmetry. Yet technology alone cannot guarantee better governance. What is needed, therefore, is the thinking board that debates assumptions, grounds itself in data, deliberates inclusively, and sustains dialogue with its stakeholders.
Board ViewsFrom Information Asymmetry to Intelligence Symmetry: How AI Will Reshape Corporate Governance
Information asymmetry has long been a central challenge in corporate governance, leading to misaligned incentives, agency problems, and reduced organizational efficiency. This article explores the transformative potential of artificial intelligence (AI) in shifting corporate governance from regimes dominated by information asymmetries to new paradigms characterized by "intelligence symmetries." By enhancing transparency, automating oversight, and enabling predictive analytics, AI can realign stakeholder relationships and improve governance outcomes. The article provides a theoretical framework, examines real-world implementations, and discusses the limitations and ethical concerns associated with AI-driven governance. Ultimately, it argues that AI holds the power not only to improve the efficiency of governance mechanisms but also to democratize corporate oversight by making intelligence accessible and actionable across the corporate hierarchy.
Board ViewsRethinking Risk at the Board Level: From Risk Oversight to Foresight
Corporate boards increasingly face complex and dynamic risk landscapes, where traditional risk management processes excel at managing dormant risks but often fail to identify awakening risks that threaten the long-term sustainability of the firm. This paper proposes a dual-framing approach – combining “what if” and “what if not” perspectives in board decision-making – to address cognitive and procedural biases in risk governance. We integrate behavioral decision theory, risk governance frameworks, and fiduciary law to provide a conceptual model for improving board effectiveness. We demonstrate how dual-framing can mitigate risk traps, enhance strategic foresight, and strengthen adherence to the Business Judgment Rule. Practical implications for board governance, legal defensibility, and organizational resilience are presented.
