%0 Journal Article
%T Sustainable Board of Directors: Evidence from the Research Productivity of Professors Serving on Boards in the Korean Market
%J Sustainability | An Open Access Journal from MDPI
%D 2019
%R https://doi.org/10.3390/su11154247
%X We examine the relationship between the expertise of outside directors from academia and firmsĄŻ financial performance using a unique dataset on the research publications of such directors. Specifically, we use research publication history in finance or an academic concentration in business or law as a proxy for expertise and measure the influence of this expertise on Korean financial firmsĄŻ short-term and long-term performance. We find a positive (negative) association between research intensity (a business or law concentration) and short-term corporate performance. Firms with greater information and agency problems appear to benefit more from research-intensive academic outside directors than other firms do. Thus, we propose that firms in emerging economies elect research-intensive academic outside directors to contribute to sustainable corporate governance and firm performance. View Full-Tex
%U https://www.mdpi.com/2071-1050/11/15/4247