For years, dissertations have been seen as academic hurdles – a test of endurance and knowledge; endless nights and pages of reading, drafting and redrafting! What many might not realise is the immense impact these deep dives into specific areas can have on individuals, organisations and even the future.
My dissertation, A systematic review into whether the composition of the board of directors has any affect on company performance in the top 5 companies in the FTSE 100, wasn't just about getting the longest title in dissertation history; it was an opportunity to do something ‘a bit different’, but it was also a springboard for real change both personally and professionally.
My research focussed on a systematic review, something not commonly used in business-related or management research, being more commonly found in medical research. Comparative to medical research, management research is a young field that is far less developed in terms of question formulation, and studies rarely address identical problems or share research agendas (Tranfield et al, 2003).
The journey of delving into existing research, conducting rigorous analysis and ultimately uncovering similarities in the research was an intellectual odyssey. I was able to use the findings of other published researchers and find similarities within their research that ultimately answered the question ‘Does board composition affect the performance of a company?’ It wasn’t just about acquiring knowledge, it was about testing the research and comparing the academic point of view to the industrial reality.
While the findings of my dissertation did not have an impact on the organisation I was working for at the time, the result of completing such a research project had a very significant and profound effect on my professional life.
The entire course gave me more knowledge, naturally, but with hindsight, I did not appreciate the skills I was acquiring through studying. At the time, it felt like a lot of late nights and long essays, but in reality, I learned about patience, attention to detail, critical thinking and professional discussion. These skills have enabled me to be a ‘better version’ of my professional self. They are highly adaptable and advantageous skills to have in the workplace and have afforded me the opportunity to truly develop as a professional in the field of governance.
Since completing my research and Masters degree, I have been fortunate enough to be invited to be part of panel discussions at national conferences – in October I’ll be speaking at Governance North – been interviewed for podcasts and magazines and I have helped to relaunch the Yorkshire and Humber branch for the CGIUKI.
The potential impact of my research goes beyond the walls of the organisation I was working for at the time and the core themes explored in my dissertation have the potential to shape the future of organisations, especially those recruiting and developing their boards, as they could focus on the areas that truly affect performance.
- The size of the board was found to affect company performance, with a larger board being able to share the responsibility and decision-making and to reduce the opportunity for dominant or over-bearing members.
- Board independence was found to affect company performance. With independent directors, companies benefit from different perspectives, influences and experiences.
- Diversity and composition of the board were not found to have any correlation to performance of a company, although age was an interesting paradox.
- Adherence to the UK Corporate Governance Code would mitigate agency problems which could help performance, but there was no evidence to support the recommendations made in the Higgs Report that non-executive directors should not serve for more than two terms – typically six years.
My dissertation journey wasn't just about fulfilling a requirement; it was about contributing to a larger conversation, pushing boundaries and, ultimately, driving positive change. As more researchers embark on their own dissertation quests, the collective impact of these investigations has the potential to create a true ripple effect, disrupting the status quo and shaping a brighter future – so long as we publish, share and contribute collectively to it.
For students embarking on their own dissertation journeys, I encourage you to embrace the challenge. Don't view it as an end, but as a transformative beginning. Let your research be more than just words on a page; let it be a catalyst for progress, both personally and professionally.
Mark Howorth is the Head of Corporate Governance for St. Anne’s Community Services, one of the North's leading person-centred charities. Based in Leeds, St. Anne’s Community Services is a housing association and multi-specialist care provider with over 2,000 clients and tenants and 1,600 staff. Mark has a wide variety of experience in governance across a number of different sectors including professional sports, education, universities and finance. Mark is Chair of the Board and Trustee of Beyond The Margin, a small charity in Bradford supporting disadvantaged and marginalised people in West Yorkshire. Mark is also the Chair of the Yorkshire and Humber Branch of the Chartered Governance Institute UK & Ireland, is a Chartered Company Secretary and a Member of the Institute of Leadership. Mark completed his Master of Corporate Governance degree in 2022 at Leeds Beckett University.
