We study the transfer of governance across countries through overlapping boards. Companies converge to the governance characteristics and board practices of foreign firms through their directors' foreign board experiences. Learning from foreign firms' governance practices is as important as...

We use the exposure of U.S. firms’ directors to the staggered introduction of sustainability disclosure reforms in foreign countries to study the role of the board of directors in shaping corporate sustainability. Using a difference-in-differences design, we document that the board has a...