Diverse boards: Why do firms get foreign nationals on their boards?

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216305%3A26510%2F16%3APU139748" target="_blank" >RIV/00216305:26510/16:PU139748 - isvavai.cz</a>
Result on the web
<a href="https://www.sciencedirect.com/science/article/pii/S0929119916300220#ks0010" target="_blank" >https://www.sciencedirect.com/science/article/pii/S0929119916300220#ks0010</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1016/j.jcorpfin.2016.02.006" target="_blank" >10.1016/j.jcorpfin.2016.02.006</a>

Result language
angličtina
Original language name
Diverse boards: Why do firms get foreign nationals on their boards?
Original language description
Corporate boards are the focal points for strategy and investment related firm decisions, and hence they embody the key features of production and management. In this paper, using a unique dataset of listed firms, we examine the determinants of board diversity based on directors' nationalities and ask whether the presence of foreign directors on boards contributes in some way to firm governance and performance. Our results show that boards containing diverse nationalities are positively and significantly associated with shareholder heterogeneity and the firm's international market operations. Nationality diversity is also positively related to operating performance. Moreover, as we find, institutions relating to investor engagement play an important role in influencing the nature and consequences of board diversity.
Czech name
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Czech description
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Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50204 - Business and management

Publication year
2016
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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