ABSTRACT. Bhimani holds that today organisations are expected to signal the adequacy of their internal management control mechanisms. Gulamhussen and Guerreiro examine the influence of foreign equity and board membership on corporate strategy and the management of internal costs of banks headquartered in Portugal using proprietary data maintained by the Central Bank. Gulamhussen and Guerreiro expect both foreign equity and board membership to influence corporate strategy and internal costs management of domestic banks.