The Impact of Gender and Age Diversity on Company Performance
The purpose of this study is to identify the relationship between corporate performance or dividend distribution policy and diversity of gender and age for the Management Teams and the Boards of Directors associated with the companies listed on the Bucharest Stock Exchange. We have also investigated the impact of firm size or of leverage on the relationship between firm performance and of the Management Board's characteristics related to diversity, mentioned above. We have identified certain conclusions: i) the existence of women in leadership CEO or Chairman of the Board of Directors does not have a significant impact on firm performance, ii) there is a negative relationship between the age of Chairman of the Board, on the one hand and the performance of company on the other hand, or a positive one if dividend policy, iii) the percentage of women in the management or board is low and does not significantly influence the dependent variables.
Volume (Year): 5 (2013)
Issue (Month): 4 (December)
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- Agrawal, Anup & Knoeber, Charles R, 2001. "Do Some Outside Directors Play a Political Role?," Journal of Law and Economics, University of Chicago Press, vol. 44(1), pages 179-98, April.
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- Antia, Murad & Pantzalis, Christos & Park, Jung Chul, 2010. "CEO decision horizon and firm performance: An empirical investigation," Journal of Corporate Finance, Elsevier, vol. 16(3), pages 288-301, June.
- Yermack, David, 1996. "Higher market valuation of companies with a small board of directors," Journal of Financial Economics, Elsevier, vol. 40(2), pages 185-211, February.
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