Board Diversity and Firm Performance: The Role of Contextual Variables

被引：15

作者：

Pandey, Nitesh ^{[1
,6
]}

Baker, H. Kent ^{[2
]}

Kumar, Satish ^{[1
,3
]}

Gupta, Prashant ^{[4
]}

Ali, Searat ^{[5
]}

机构：

[1] Malaviya Natl Inst Technol, Dept Management Studies, Jaipur 302017, India

[2] Amer Univ, Kogod Sch Business, Washington, DC 20016 USA

[3] Swinburne Univ Technol, Sch Business, Kuching 93350, Malaysia

[4] Indian Inst Management, Tiruchirappalli 620021, India

[5] Univ Wollongong, Sch Business, Wollongong, NSW 2522, Australia

[6] Amrita Vishwa Vidyapeetham, Amrita Sch Business, Coimbatore 641112, Tamil Nadu, India

来源：

BRITISH JOURNAL OF MANAGEMENT | 2023年 / 34卷 / 04期

关键词：

GENDER DIVERSITY; CORPORATE GOVERNANCE; ETHNIC DIVERSITY; WOMENS PRESENCE; AGENCY COSTS; DIRECTORS; MANAGEMENT; OWNERSHIP; IMPACT; REPRESENTATION;

D O I：

10.1111/1467-8551.12675

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We examine the dynamic relationship between board diversity and firm performance in an Indian context using a systems generalized method of moments and control function approach. Our baseline analysis shows that board diversity positively influences accounting performance but negatively affects market performance. Additional analysis reveals that contextual variables, including board independence, firm size, firm age, promoter shareholdings, industry sector, women's participation in STEM education and the workforce and gross domestic product moderate this relationship significantly. We also find improved market performance after enacting the Companies Act 2013. Overall, these results highlight the critical role of performance measurement and contextual variables in the diversity-performance nexus.

引用

页码：1920 / 1947

页数：28

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