Contrary to findings in the corporate literature, the authors of a recent
study of non-profit boards of directors argue that a larger board size may allow for
specialized division of labor across the various board tasks and functions (Oster
and O’Regan, 2005).3 In this manner, the negative effects of free-ridership that
stem from large board size may be offset by gains from specialization.
Cooperative and corporate boards may also benefit from specialization, but
because there are fewer board functions relative to non-profit boards, benefits
from specialization are less obvious.