Board monitoring and advising trade‐offs amidst economic policy uncertainty
研究了经济政策不确定性上升时，董事会如何调整其监督与咨询双重角色，发现董事会会缩小规模、提高独立性和女性董事比例，以增强监督能力。
Abstract We examine the changes in the board's dual roles of monitoring and advising in times of fluctuating economic policy uncertainty (EPU). We find that a rise in EPU leads boards to reduce the size and increase independence and the proportion of female directors. They also decrease the involvement of insiders and outside executives. There is also a drop in the busyness of the directors. Overall, we find that boards enhance their monitoring power to deal with greater EPU.