Relationship between diversity on the board of directors’ and firm financial performance
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2018-01-16
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Sampaio, Joelson Oliveira
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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.