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Abstract Focusing on the theme of boards of directors’ involvement in corporate strategy, we review related research findings in this field of the past forty years. Firstly, authors summarize six mainstream theoretical perspectives in this area, and sum up these perspectives’ similarities and differences. Secondly, based on six theoretical perspectives, this paper explores the fundamental cause of perspectives’ change, and concludes that shareholder activism is the development and evolution clue of boards of directors’ involvement in corporate strategy. Finally, the authors propose four trends in development of this promising frontier. The ideas proposed may be helpful for future studies.
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Received: 06 September 2012
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2013, Vol. 10 
