Theoretical Pros and Cons of Outside Director Liablity Outside Director Substantial Risk Liability Prons Motivate the outside director to be more attentive Directorship:decline Cons Decision-making:counterproductively cautious Page7Page  7 Theoretical Pros and Cons of Outside Director Liablity Outside Director Liability Substantial Risk Prons Motivate the outside director to be more attentive Cons Directorship: decline Decision-making: counterproductively cautious