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Managers and directors alike face tough choices as they decide on the quality and quantity of information the board receives and uses in its governance and fiduciary roles. As the fallout from recent crises such as the sub-prime mortgage debacle illustrates, both sides must address the problem of "Information asymmetry" - the gap between the information available to management and to the board. The research suggests that tomorrow's boardroom will be reshaped by three related forces: a thorough rethinking of directors' information needs brought on by concerned stakeholders; dramatic improvements in the performance management approaches used to guide boards' decision making; and the adoption of technologies that support critical board functions.
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