Board Structure and Firm International Diversification: The Moderating Effects of Institutional Forces

This paper investigates how board structure affects firm international diversification and examines the effects of board structure, including board size, international director, independent director, and institutional director on firm international diversification. This study further investigates the moderating effects of institutional forces on the relationships between board structure and firm international diversification. Using a sample of Taiwanese firms, the results show that board attributes are significantly associated with firm international diversification and that institutional forces partially moderate the relationships between board structure and firm international diversification. This study contributes to the growing literature in the field of strategic management by demonstrating the effect of institutional forces on the strategic board decision-making process.