LAUSR

Directors can become overextended when they serve on multiple boards simultaneously. Previous scholars mostly considered directorships held at listed companies. This study aims to investigate the extent and impact of director overboardedness in an emerging market by using a comprehensive measure.,The analysis covered 1,600 directors who served on the boards of the 100 largest companies listed in South Africa over the period 2011–2016. In addition to directorships held at listed companies, board positions at unlisted companies and other entities such as state-owned enterprises were considered. Board committee memberships at the sample companies were furthermore included. Random effects ANOVA was conducted to test for significant differences in board and committee meeting attendance.,Two-thirds of the considered directors were overboarded when accounting for all their positions. Board committee memberships increased notably over the research period. There was no significant difference in the percentage of board meetings attended between overboarded and non-overboarded directors. However, those directors who held three or more positions simultaneously attended significantly more board committee meetings than their counterparts who held fewer positions. Of the considered committees, the remuneration committee typically had the highest proportion of overboarded directors.,Eligible board candidates are in high demand given the limited talent pool in South Africa. The findings contradict the busyness hypothesis and suggest that director overboardedness should be evaluated on a case-by-case basis.