Top executives of the parent company often take positions as the directors and officers (D&Os) of subsidiaries. These parent-subsidiary common D&Os have better access to subsidiary information and can exert more influence over subsidiary operations. Therefore they can better identify tax...

We investigate the effect of board connections on the debt structure of private firms. Using a comprehensive panel data set from Italy, our empirical evidence indicates that independent directors who sit on multiple boards facilitate firms' access to external debt, mostly in the form of trade...