What drives some companies to donate money to charities, invest in local communities, or spend time and resources supporting the arts while others never look beyond meeting quarterly earnings? According to a new study, it may depend upon whether the board of directors includes outsiders.

Recent revelations of corporate mismanagement and coverups have fueled the call for boards of directors to wake up and be more vigilant on their watch. The study, “Board Members in the Service Industry:...

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