In this paper we note that unrelated research in the management and finance fields, if combined, makes predictions concerning board reforms in emerging countries. Specifically, outside directors' demographic characteristics that are salient to foreign investors should reduce stock price...

This paper explores how the composition of a firm's outside directors influences the growth of foreign investment in the firm. In this paper, we explore a signaling role of the composition of a firm's outside directors by examining how the composition influences the growth of foreigners'...