Board Diversity And Corporate Financial Performance
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Board Diversity And Corporate Financial Performance
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Author : Michelle Maria Duguid
language : en
Publisher:
Release Date : 2006
Board Diversity And Corporate Financial Performance written by Michelle Maria Duguid and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Boards of directors categories.
Corporate Governance And Diversity In Boardrooms
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Author : Barbara Sveva Magnanelli
language : en
Publisher: Springer Nature
Release Date : 2020-10-02
Corporate Governance And Diversity In Boardrooms written by Barbara Sveva Magnanelli and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-10-02 with Business & Economics categories.
This book explores diversity in boardrooms to highlight the link between the heterogeneous dimensions of board diversity and their impact on the firms. The book provides a brief definition of corporate governance and focuses on the role and functions of the board of directors. The work contributes to the literature enriching the empirical findings about board diversity. After a deep review of the literature within several theoretical frameworks, such as agency, stakeholder, stewardship, resource dependence, and the institutional theory, the focus moves on the impact on financial performance. The board diversity effects are tested through an empirical analysis conducted on a sample of European listed companies, performing both a single and a joint diversity index analysis. Practitioners and academics will find this book particularly timely and useful as it combines both a review of the literature and robust empirical investigation. It will be an excellent reading for academics and practitioners interested in firm performance, corporate governance and stakeholder theory.
The Diversity Of Corporate Board Committees And Firm Financial Performance
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Author : David Carter
language : en
Publisher:
Release Date : 2007
The Diversity Of Corporate Board Committees And Firm Financial Performance written by David Carter and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
We examine the relationship between the gender and ethnic minority diversity of the board of directors and the financial performance of the firm, i.e. the economic case for a diverse board of directors. The research is unique because we analyze both the diversity of the board and the diversity of important board committees to gain greater insight into the way diversity affects board functions and, ultimately, shareholder value. Our sample consists of all firms listed on the Fortune 500 over the period 1998-2002 yielding a panel of data with approximately 2,000 firm years. Our data also indicate that the direction of causation goes from board diversity to firm financial performance which supports the economic case for board diversity. When we consider the percentage of women and ethnic minority directors on the board, the diversity of board composition appears to create value for shareholders. The results of a cross-section fixed-effects procedure with lagged variables and a three-stage least-squares estimation support board diversity has a positive effect on financial performance as measured by Tobin's q. However, the board committee evidence also indicates that the process through which gender and ethnic diversity impacts financial performance is subtle and complex. Some functions of the board may benefit from diverse directors while other functions may actually suffer. Furthermore, the type of diversity appears to matter. We conclude a more nuanced view of the economic case for board diversity is most appropriate.
Board Diversity And Financial Performance
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Author : Cobus Taljaard
language : en
Publisher:
Release Date : 2014
Board Diversity And Financial Performance written by Cobus Taljaard and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
Directors need to guide and govern companies on behalf of and for the benefit of shareholders and stakeholders (Adams, Hermalin, & Weisbach, 2010; "Duties of directors," 2011). However questions remain as to whether boards with higher levels of diversity amongst directors are better equipped to fulfil their fiduciary duty than boards with lower levels of diversity (Carter, D'Souza, Simkins, & Simpson, 2010; Jhunjhunwala & Mishra, 2012; Nielsen & Nielsen, 2013).This research examines whether increased levels of diversity within boards are associated with improved financial performance to shareholders. From the literature, several theoretical frameworks that could explain why increased diversity might or might not lead to improved board performance were noted. Share returns and directors' demographic data were collected for a sample of the largest 40 companies listed on the JSE from 2000 to 2013. This data was analyzed using Muller and Ward's (2013) investment style engine by forming portfolios of companies based on board-diversity constructs. Time-series graphs of cumulative portfolio market returns were analyzed to determine if the diversity dimensions tested were associated with improved company financial performance.The results showed that racial diversity within boards is not associated with financial performance. However, increased gender diversity and younger average board age were shown to have strong associations with improved share price performance.
The Diversity Of Corporate Board Committees And Financial Performance
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Author : David Carter
language : en
Publisher:
Release Date : 2008
The Diversity Of Corporate Board Committees And Financial Performance written by David Carter and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
We examine the relationship between the gender and ethnic minority diversity of the board of directors and the financial performance of the firm. The research is unique because we analyze the diversity of important board committees to gain greater insight into the way diversity affects board functions and shareholder value. Our sample consists of all firms listed in the Fortune 500 over the period 1998-2002 which yields a panel of data with approximately 2,000 firm years. The results of three-stage least-squares estimation support the conclusion that board diversity has a positive effect on financial performance as measured by Tobin's q. The evidence on board committees indicates that gender diversity has a positive effect on financial performance primarily through the audit function of the board and ethnic diversity impacts financial performance through all three functions of the board we investigate, audit, executive compensation, and director nomination.
The Bottom Line
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Author : Catalyst
language : en
Publisher: Catalyst
Release Date : 2004
The Bottom Line written by Catalyst and has been published by Catalyst this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Diversity in the workplace categories.
This study explores whether there is a demonstrable connection between gender diversity and organizational financial performance.
Behind Closed Doors
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Author : Kara Hollis
language : en
Publisher: LAP Lambert Academic Publishing
Release Date : 2011-10
Behind Closed Doors written by Kara Hollis and has been published by LAP Lambert Academic Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-10 with categories.
This thesis examines the effects of different forms of corporate board diversity on company financial performance. Specifically, the study considers whether types of informational and demographic diversity, as well as the level of familiarity among board members, lead to improved functioning of the board. To determine the relationship between board diversity and firm performance, the thesis combined quantitative and qualitative data, employing statistical analysis to determine the relationship between various forms of board diversity and firm financial performance of Fortune 1000 corporations, as measured by return on assets (ROA) and return on investments (ROI). It also utilized interviews with eleven Fortune 500 board directors to gain insight into the dynamics behind the boardroom doors that could facilitate or discourage the contributions of different forms of diversity. By combining insights from these two data sources, gender diversity was found to enhance firm performance, while diversity in board experience (measured by the number of boards directors have served on during their career) had a detrimental effect.
Board Gender Diversity And Firm Performance
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Author : Bryson Mumba
language : en
Publisher:
Release Date : 2017
Board Gender Diversity And Firm Performance written by Bryson Mumba and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
Board diversity is one of the corporate governance mechanisms that has received greater attention in recent research studies concerned with investigating the relationships between corporate governance and firm performance. The King IV (2016) has advocated for, among other things, diversity in the composition of governing bodies for organisations. The relationship between board gender diversity and financial performance of firms listed on the Lusaka Stock Exchange in Zambia was the subject of this study. A panel data analysis approach was employed which involved cross sectional data for all listed companies on the Lusaka Stock Exchange for the period 2006 to 2016. The study used regression analysis as estimation technique to investigate the relationship between board gender diversity (surrogated by the number and proportion of females on the board of directors) and the three financial performance proxies (Return on assets (ROA), Return on equity (ROE) and Leverage). The overall findings were that board gender diversity positively affected firm performance and it explained 5%, 6% and 9% of the changes in ROA, ROE and leverage respectively. Further, the regression models explained a significant proportion of the variation in the ROA and leverage. This paper focused on Zambian companies and the findings contributed to the growing knowledge on the relationship between board gender diversity and corporate financial performance in developing and developed countries. The findings are of interest to policy makers, researchers, investors and corporate boards.
Gender Diversity In Senior Positions And Firm Performance
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Author : Lone Engbo Christiansen
language : en
Publisher: International Monetary Fund
Release Date : 2016-03-07
Gender Diversity In Senior Positions And Firm Performance written by Lone Engbo Christiansen and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-03-07 with Social Science categories.
This paper examines the link between gender diversity in senior corporate positions and financial performance of 2 million companies in Europe. We document a positive association between corporate return on assets and the share of women in senior positions and establish two potential channels through which gender diversity may affect firm performance. The positive correlation is more pronounced in, first, sectors where women form a larger share of the labor force (such as the services sector) and, second, where complementarities in skills and critical thinking are in high demand (such as high-tech and knowledge-intensive sectors).
Diversity And The Effective Corporate Board
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Author : Ram Kumar Mishra
language : en
Publisher: Academic Press
Release Date : 2013-04-16
Diversity And The Effective Corporate Board written by Ram Kumar Mishra and has been published by Academic Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-04-16 with Business & Economics categories.
The book discusses the various aspects of diversity of corporate boards in terms of gender, age, nationality, tenure, education, experience and personalities. It enumerates the need for such diversity in each category and related concerns. Statistics from around the world support the authors’ claims. The nine chapters in this short book have not been previously published. Explains the dimensions of board diversity and ways to use them to increase effectiveness Supports its findings with statistics from around the world Relevant for researchers and professionals working in corporate governance and corporate finance