Influence Capital in Boards: a study of ex-bureaucrats in India

One of the important roles which firm boards play is the resource provision role. In this study, we examine influence capital, a specific form of resource provision on boards. Two categories of government officials, i.e., Politicians and Bureaucrats tend to be the major providers of influence capital. While firm connections to politicians as board members has been examined in prior literature, connections to bureaucrats (and ex-bureaucrats) has...