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

Kód výsledku v 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>

Výsledek na webu

<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>

Jazyk výsledku

angličtina

Název v původním jazyce

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

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

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

Popis výsledku anglicky

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.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50204 - Business and management

Projekt

—

Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2016

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

JOURNAL OF CORPORATE FINANCE

ISSN

0929-1199

e-ISSN

1872-6313

Svazek periodika

39

Číslo periodika v rámci svazku

1

Stát vydavatele periodika

NL - Nizozemsko

Počet stran výsledku

19

Strana od-do

174-192

Kód UT WoS článku

000381237100010

EID výsledku v databázi Scopus

2-s2.0-84959550105