A Study of Management Perceptions of the Impact of Board Roles on Value Creation Typology in Developing Economies : The Case of Tunisian Listed Companies

This study deals with the contribution of corporate board to value creation in a developing economies context as Tunisia. This paper aims to go beyond the conventional approaches to identify the different board roles that can contribute to enhance the creation of a given type of value according to company objectives, stakeholders' interests and environment expectations.The conceptual study has allowed us to identify three main board roles: a control role, a strategy role and a service role. Regarding value creation, we retained a typology with three kind of value: the economic value, the social value and the institutional value.The survey of 52 Tunisian listed companies revealed a positive relationship between two board roles and the three types of value creation