On the internationalization of corporate boards - The case of Nordic firms

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Abstract

This study investigates the internationalization of corporate boards, using a sample of 346 non-financial listed Nordic firms during 2001–2008. Given a high level of international activity, these firms have surprisingly few foreign directors. The picture of international expertise changes considerably, however, if we also count the international experience of national directors. The percentage of foreign directors is related primarily to financial internationalization rather than foreign sales, and thus presumably to the monitoring rather than advisory functions. The international experience of the nationals covaries with foreign sales, and increases with the share of foreign directors. Thus both sources of international expertise should be considered when analyzing board internationalization.

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Authors
Research areas and keywords

Subject classification (UKÄ) – MANDATORY

  • Economics and Business

Keywords

  • internationalization, international directors, international board experience, board composition, board recruitment, corporate governance
Original languageEnglish
Pages (from-to)173-194
JournalJournal of International Business Studies
Volume44
Issue number3
Publication statusPublished - 2013
Publication categoryResearch
Peer-reviewedYes