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Effect of board diversity and skill profile on firm performance
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This empirical research examines the relationship between board’s diversity and firm performance, providing a comprehensive quantitative analysis between diversity factors (demographic - gender and race, cognitive - age, education, role and network) and financial factors (ROA, ROE, ROIC, asset turnover and current ratio) in the component companies of the FTSE 100 index. The dataset also includes a wide array of information about 1053 board members.
The results indicate that a diverse board positively impacts ROA, ROIC, asset turnover and current ratio but were insignificant for ROE. It proves that diversity leads to better social reputation, performance and financial performance.
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Corporate governance Gender diversity Racial diversity Board of directors FTSE100 Demographic diversity Cognitive diversity United Kingdom