Navigating global uncertainty: Do foreign national directors protect <scp>US</scp> firms from supply chain disruptions?
Journal: Contemporary Accounting Research
Year: 2025

Abstract We examine whether foreign national directors (FNDs) on US corporate boards help their firms mitigate the adverse effects of economic policy uncertainty (EPU) shocks originating from the directors' home countries. Using a comprehensive data set of US manufacturing firms' international supply chain relationships from 2003 to 2019, we find that EPU spikes in supplier countries lead to significant declines in aggregate US imports as well as in buyer firms' inventory purchases, sales, and m