Detail publikace

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

SÁGHY ESTÉLYI, K. NISAR, T.

Originální název

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

Typ

článek v časopise ve Web of Science, Jimp

Jazyk

angličtina

Originální abstrakt

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.

Klíčová slova

director nationality, diversity, institutions, shareholder heterogeneity, board governance, performance

Autoři

SÁGHY ESTÉLYI, K.; NISAR, T.

Vydáno

31. 8. 2016

Nakladatel

Elsevier BV

Místo

Amsterdam, The Netherlands

ISSN

0929-1199

Periodikum

JOURNAL OF CORPORATE FINANCE

Ročník

39

Číslo

1

Stát

Nizozemsko

Strany od

174

Strany do

192

Strany počet

19

URL

https://www.sciencedirect.com/science/article/pii/S0929119916300220#ks0010

BibTex

@article{BUT169855,
  author="Kristína {Sághy Estélyi} and Tahir M. {Nisar}",
  title="Diverse boards: Why do firms get foreign nationals on their boards?",
  journal="JOURNAL OF CORPORATE FINANCE",
  year="2016",
  volume="39",
  number="1",
  pages="174--192",
  doi="10.1016/j.jcorpfin.2016.02.006",
  issn="0929-1199",
  url="https://www.sciencedirect.com/science/article/pii/S0929119916300220#ks0010"
}