2134/26204 Jonghoon Nam Jonghoon Nam Xiaohui Liu Xiaohui Liu Eleni Lioliou Eleni Lioliou Mugoan Jeong Mugoan Jeong Do board directors affect the export orientation and export performance of Korean firms? A resource dependence perspective Loughborough University 2017 Resource dependence Exports Government experienced board directors MNC experience Outside directors Korea Business and Management not elsewhere classified 2017-08-24 10:38:01 Journal contribution https://repository.lboro.ac.uk/articles/journal_contribution/Do_board_directors_affect_the_export_orientation_and_export_performance_of_Korean_firms_A_resource_dependence_perspective/9502346 Using the Heckman two-stage method, this study empirically investigates whether board directors’ work experience in government and multinational corporations (MNCs), as well as the proportion of outside directors affects export propensity and export performance based on a sample of Korean firms. We find that the Korean firms with former government officials on the board are more likely to engage in exporting, although there is no empirical evidence supporting export performance. The findings also show that firms with former MNC employees on the board demonstrate higher levels of export propensity and export performance. Similarly, firms with a higher proportion of outside directors exhibit a higher level of export propensity and export performance. These findings highlight the importance of the board of directors in Korean firms’ first stage of internationalization and provide new insights into which type of board members can benefit their firms in terms of export propensity and export performance.