Why you don’t want retired military men in your business
Corporations seek out ex-military officials because they think it’s good for business. There’s no denying that all that brass and all those medals will probably attract some short-term military contracts. But over the longer term, research shows that firms with military board members perform poorly. Companies advised by board members with military experience are less likely to invest in research and development and have lower value than firms whose board members lack such military muscle. Even worse independent directors with military experience are associated with conservative investment and lack of innovation. Exactly what you don’t need when running a business. Reference “Do military independent directors improve firm performance?” Finance Research Letters (2021)
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