Value creation in cross-border acquisitions: The role of outside directors' human and social capital

Do outside directors influence the performance of cross-border acquisitions? We use resource dependence arguments and a sample of 431 relatively large cross-border acquisitions undertaken by U.S. firms to explore how the human and social capital of outside directors on the acquiring firm's board influence shareholder value creation. Findings indicate that human and social capital linked to board tenure, external board appointments, and...