IDEAS home Printed from https://ideas.repec.org/a/ids/afasfa/v16y2026i4p413-434.html

Guardians of resilience: unveiling the power of board diversity in mitigating financial distress

Author

Listed:
  • Shital Jhunjhunwala
  • Nitya Garg
  • Sonia Mudel

Abstract

Board diversity is a strategic asset for enhancing a firm's resilience in crisis. This study investigates the impact of board diversity in mitigating the probability of financial distress. The study focuses on a sample of 401 non-financial companies listed on NSE from 2018 to 2022. Dynamic panel models with a generalised method of moments were employed to explore the relationship between board diversity and financial distress. This study has focused on observed diversity (gender and age) and cognitive diversity (tenure and education) variables for a more comprehensive investigation. By considering factors such as directors' age, professional experience, and tenure during nominations, companies can build a board capable of steering it through financial challenges more adeptly.

Suggested Citation

  • Shital Jhunjhunwala & Nitya Garg & Sonia Mudel, 2026. "Guardians of resilience: unveiling the power of board diversity in mitigating financial distress," Afro-Asian Journal of Finance and Accounting, Inderscience Enterprises Ltd, vol. 16(4), pages 413-434.
    • Handle: RePEc:ids:afasfa:v:16:y:2026:i:4:p:413-434
    as

    Download full text from publisher

    File URL: https://www.inderscience.com/link.php?id=154704
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ids:afasfa:v:16:y:2026:i:4:p:413-434. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sarah Parker (email available below). General contact details of provider: http://www.inderscience.com/browse/index.php?journalID=214 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.