We highlight how directors and senior managers perceive the roles of a board to involve overseeing risk and compliance, strategy, governance, developing the CEO and senior management and managing stakeholders. We find that managers and directors perceive board effectiveness as linked to different combinations of these roles and that there appear to be differences in perceptions between different types of firms. We conclude that clarity around the board's role set is critical to furthering the corporate governance research agenda, and that the relationship between board roles and perceived board effectiveness differs between managers and directors.

Research investigating Karasek's (1979) Demand–Control Model (D-CM) has produced mixed results relating to the stress-buffering effects of job decision latitude, or job control, on employee adjustment. Cited reasons for these mixed results include the way control is operationalised and also the potential effects of secondary moderators in the relationship among job demand, job control, and employee adjustment. Towards addressing these issues, the present study assessed the secondary moderating effects of subjective fit with organisational culture and values in the D-CM. Participation in decision-making was used as the measure of job control. Moderated multiple regression analyses revealed three significant interactions in a sample of 119 employees. The results revealed a three-way interaction between role overload, participative control, and subjective fit on physiological symptoms and psychological health. Further analyses demonstrated a significant interaction between role conflict, participative control, and subjective fit on intentions to leave. In all interactions, participative control buffered the negative effects of the stressors on levels of employee adjustment only when employees' subjective fit with the organisational values was high. The theoretical importance and practical implications of the results are discussed.