People sometimes question the centrality of the board of directors as the British governance reform policy debate, because the daily impact of the board is hard to be perceived. However, when things go wrong, they become the focus of attention (Adams et al, 2010). Agency theorists believe that the board has two main functions: decision management and decision control (Amama & Grzegorz, 2014). The UK Code (Financial Reporting Council, 2014, p. 1) reflects the difference, pointing out that "corporate governance is the processes and a combination by which companies are directed and controlled" and "the board of directors is responsible for corporate governance". This paper will start from two major aspects of corporate internal governance and external governance, and evaluate the importance of the board of directors in agency relationship, independence and supervision, and crisis respectively, so as to illustrate that the important role of the board of directors in comprehensive corporate governance is inevitable and crucial, and the core position of the board of directors in the corporate governance mechanism.

Siyu Du. Evaluate the importance of the board of directors to the corporate governance of large listed UK firms. Academic Journal of Business & Management (2021) Vol. 3, Issue 10: 44-46. https://doi.org/10.25236/AJBM.2021.031008.

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