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The recent corporate scandals have placed the corporate governance systems under closer scrutiny than ever. Many companies have plunged in recent years reducing shareholders value drastically in most cases and investment as a result. This has negatively affected both developed and less developed economies. Multiple directorships have been identified as one of the issues that can enhance or destroy shareholders value. However, New Zealand practises self-discipline as far as multiple directorships is concerned. In New Zealand firms enjoy an institutional environment where corporate governance is less regulated. This book explores the impact of multiple directorships on performance of companies listed on the New Zealand Stock Exchange for the period spanning from 2001 to 2006. The result shows that directors who hold too many directorships cannot monitor management because of overcommitment. This finding would help policy makers and regulators produce corporate governance best practice code on multiple directorships. Investors too will know whether multiple directorships will enhance or destroy shareholders value. This study is the first to be conducted employing New Zealand data.