CORPORATE BOARD DIVERSITY AND FIRM PERFORMANCE: EVIDENCE FROM NIGERIA
By A. Ujunwa, I. Nwakoby, C. O. Ugbam. 2012
142 citations recorded by the source corpus.
This paper investigates the impact of corporate board diversity on the financial performance of Nigerian quoted firms using a panel data of 122 quoted Nigerian firms. Aspects of board diversity studied comprise board nationality, board gender and board ethnicity. The Fixed Effect Generalised Least Square Regression is used to examine the impact of board diversity on firm performance for the period: 1991-2008. The results show that gender diversity was negatively linked with firm performance, while board nationality and board ethnicity were positive in predicting firm performance. One of the policy implications of our findings is that foreign board members provide a firm with better qualified candidates who have broader industry experience. Additionally, the presence of women on the board could be perceived by shareholders as a sign of impending significant change, thereby making them more confident in the company’s success, which results in increase in share price.
Subfields: Accounting, Gender Studies
View Paper: https://www.semanticscholar.org/paper/8592d9c401107458f3befe01dc386e56fbdb1048
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Citations in the corpus
- Board diversity and organizational valuation: unravelling the effects of ethnicity and gender (2013, background): “2006) and board structure (Swartz and Firer 2005; Kyereboah-Coleman and Biekpe 2006; Sunday 2008; Ntim 2011) on market valuation, studies examining the valuation implications of ethnic and gender diversity within organizational boards are rare (Lincoln and Adedoyin 2012; Mahadeo et al. 2012; Ujunwa ”