QUALIFICATIONS OF CORPORATE-BOARD COMMITTEE MEMBERS

Board committees, the most critical subgroups of corporate governance, are examined in terms of the director qualifications of type, tenure, age, internal activity, and external activity. Comparisons of subgrou p members' qualifications with those of nonsubgroup members suggest th at committees are generally composed of the most qualified directors. Comparisons of new members of committees with continuing and nonmember s suggest that cohesiveness and diversity pressures are balanced in th e appointment of new members. The results yield insights about subgrou p membership dynamics at the board level, particularly that the mandat e and functions of a committee call for specific member qualifications .