“…The study, like Slack and colleagues' work, shows the importance of changes in board level decision making because these express and shape shifts between efficiency and representation/democracy, two conflicting values with very different organizational implications (Sam, 2009). Along these lines, it is commonplace among modernization scholars to speak about the creation of a systemic-level 'democratic deficit' (Adams, 2011, p. 39;Dowling et al, 2015, p. 97;Fahlén, 2017a, p. 718;Houlihan & Green, 2009, p. 696;Sam, 2009, p. 509;Sam & Macris, 2014, p. 526) as a result of lines of accountability being drawn 'upwards' and 'outwards' instead of 'downwards' (Adams, 2011;Dowling et al, 2015;Green & Houlihan, 2006;Grix, 2009;Houlihan & Green, 2009;Lehtonen, 2017;Sam, 2009;Walters & Tacon, 2018).…”