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dc.contributor.authorHearn, Bruce
dc.contributor.authorOxelheim, Lars
dc.contributor.authorRandøy, Trond
dc.identifier.citationHearn, B., Oxelheim, L. & Randøy, T. (2022). The influence of business groups on board composition in offshore financial multinational enterprises. International Business Review, 1-17.en_US
dc.description.abstractBased on resource dependence theory we argue for an influence of business groups (BGs) on the board composition of constituent offshore financial multinational enterprises (FMNEs). Using a unique sample of 171 Caribbean FMNEs in an inter-island BG setting, we find BGs’ control in constituent firms to be indicative of the importance of the internal financing and intermediation within the group network. This control leads to a higher proportion of lawyers hired to the boards of directors in BG-constituent firms and supports the argument that lawyers provide skills in complex offshore regulatory frameworks that facilitate BGs’ optimal tax management. Furthermore, we observe that an increased adoption of shareholder rights governance by BG-constituent firms is associated with increased engagement with outside resource providers, increased potential conflicts of interest and hence a need for hiring more lawyers. Our interpretation is that offshore FMNEs have a need for more lawyers, whose legal skill is critical to the competitive advantage of FMNEs.en_US
dc.rightsNavngivelse 4.0 Internasjonal*
dc.titleThe influence of business groups on board composition in offshore financial multinational enterprisesen_US
dc.typePeer revieweden_US
dc.typeJournal articleen_US
dc.rights.holder© 2022 The Author(s)en_US
dc.subject.nsiVDP::Samfunnsvitenskap: 200::Økonomi: 210en_US
dc.source.journalInternational Business Reviewen_US

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Navngivelse 4.0 Internasjonal
Except where otherwise noted, this item's license is described as Navngivelse 4.0 Internasjonal