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Effect Of Foreign Institutional Investors On Corporate Board Attributes: A Literature Review

Sandeep Rao

This paper is a review of the exiting literature on corporate governance focusing on the key attributes of board namely the executive compensation, Board independence and Board busyness. The paper looks into the exiting work on how the foreign investment impacts the corporate governance and the main theories supporting it. The paper provides a model and a research setup for conducting future empirical studies specific to an economy on the impact of different types of foreign institutional investors on the corporate governance through the channel of board attributes. It provides a detailed discussion on how the endogeneity issues are addressed by previous literature and what new empirical research in governance can look forward to.