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Board Diversity as a Shield During the Financial Crisis

In: Corporate Governance

Author

Listed:
  • Peter-Jan Engelen

    (Utrecht University School of Economics)

  • Annette Berg

    (Utrecht University School of Economics)

  • Gerwin Laan

    (Utrecht University School of Economics)

Abstract

This chapter examines the link between board diversity and firm financial performance for a sample of Dutch listed companies during the recent financial crisis. We examine seven dimensions of diversity: nationality diversity, gender diversity, diversity with respect to the level of education, diversity with respect to the field of education, expertise diversity, socioeconomic background diversity and age diversity. Our empirical results show a hyperbolic relation between the focal variables age diversity, expertise diversity and background diversity and firm financial performance. We also find that gender diversity, nationality diversity and diversity with respect to education have no impact on firm performance during crisis times. Our empirical results show that focusing on only one dimension of the full diversity vector or on linear effects only can lead to detrimental economic effects.

Suggested Citation

  • Peter-Jan Engelen & Annette Berg & Gerwin Laan, 2012. "Board Diversity as a Shield During the Financial Crisis," Springer Books, in: Sabri Boubaker & Bang Dang Nguyen & Duc Khuong Nguyen (ed.), Corporate Governance, edition 127, pages 259-285, Springer.
    • Handle: RePEc:spr:sprchp:978-3-642-31579-4_11
    DOI: 10.1007/978-3-642-31579-4_11
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    Cited by:

    1. Abubakar Biu Aliyu & Onipe Adabenege Yahaya & Nma Ahmed Mohammed, 2021. "Board features and financial performance of Nigerian banks," International Journal of Finance & Banking Studies, Center for the Strategic Studies in Business and Finance, vol. 10(1), pages 11-19, January.
    2. van den Oever, Koen, 2017. "Uncharted waters : A behavioral approach to when, why and which organizational changes are adopted," Other publications TiSEM 0136c8c2-ecdd-4f82-8ca7-d, Tilburg University, School of Economics and Management.

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