Given the existence of conflicting theoretical perspectives and inconsistent empirical results, this study examined the relationship between board composition (insider/outsider ratios) and organizational performance. A meta-analysis was conducted and results indicate that both insider-and outsider-dominated boards, in general, had a small positive impact on financial performance. In addition, the use of different measures for composition and performance variables clearly affected the pattern of results. Finally, the managerial implications of outsider-dominated and insider-dominated board structures are discussed.