Technological change in the network (ICT) industry has been well noted. Can Technological change be addressed by board of directors of these companies? If so, is it possible for these directors to use their networks to learn or follow fads and cope up with technological change. In this paper...

This study investigates the importance of corporate boards by exploiting the predictions from a learning model in which capital markets process information and learn about the quality of incoming directors. The estimates suggest that upon the arrival of a new director, uncertainty about...