Board capital and strategic turnaround: A longitudinal case study

Line Courtemanche, Louise Côté, Eduardo Schiehll*

*Corresponding author for this work

Research output: Contribution to journalArticleScientificpeer-review

1 Citation (Scopus)


We conducted a 10-year (1997-2006) longitudinal case study of a publicly traded global transportation company (Bombardier Inc.) to examine the dynamic relationships between board capital, strategy and organizational environment. We find various links between four dimensions of board capital and changes at three strategic levels: institutional, corporate and business. Our findings indicate that Bombardier adjusted to the changing contingencies of the external environment by changing the resources provided by the Board of Directors-board human and relational capital-and by adopting specific strategies, which in turn further impacted board capital. Our study contributes to the corporate governance literature on board service tasks. We saw significant changes in board human and relational capital over the period of analysis, even though board independence remained constant. Our findings invite investors and policymakers to consider the requirements for an effective service task when nominating board members and developing board rules.

Original languageEnglish
Pages (from-to)378-405
Number of pages28
Issue number4
Publication statusPublished - 1 Nov 2013
MoE publication typeA1 Journal article-refereed


  • archive-based approach
  • board capital
  • case study
  • longitudinal
  • strategic levels
  • strategic turnaround


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