Abstract
This study contributes to the ongoing debate on the benefits and costs of multiple directorships by investigating how and when multiple directorships affect firm performance. More concretely, we study the effect of multiple directorships on firm performance, while taking into consideration board meeting attendance as a channel and firm growth as a context. Based on the unique data of 352 firms listed on the Pakistan Stock Exchange, we find that board meeting attendance mediates the negative effect of multiple directorships on firm performance. In addition, we find that the negative effect of multiple directorships on board meeting attendance is mitigated by the higher firm growth and accordingly, the indirect effect on firm performance become less negative as firm growth increases.
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