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African‐American Diversity in the Boardrooms of the US Fortune 500: director presence, expertise and committee membership

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  • Craig A. Peterson
  • James Philpot
  • K. C. O'Shaughnessy

Abstract

This study examines participation of African‐Americans on the boards and board committees of the US Fortune 500. Prior work suggests the use of committee assignment to discern active versus figurehead involvement on boards. We use a logistic regression model that controls for director traits, firm characteristics and director resource‐dependence roles to compare the odds that a black director will be assigned to key committees to those for a white director. We find that black directors are more (less) likely than whites to sit on audit and public affairs (executive) committees. Black female directors are more likely than both white females and black males to serve on finance committees. Thus there is some evidence that race plays a role in determining assignment to corporate board committees.

Suggested Citation

  • Craig A. Peterson & James Philpot & K. C. O'Shaughnessy, 2007. "African‐American Diversity in the Boardrooms of the US Fortune 500: director presence, expertise and committee membership," Corporate Governance: An International Review, Wiley Blackwell, vol. 15(4), pages 558-575, July.
    • Handle: RePEc:bla:corgov:v:15:y:2007:i:4:p:558-575
    DOI: 10.1111/j.1467-8683.2007.00588.x
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    Cited by:

    1. Nurlan Orazalin, 2020. "Do board sustainability committees contribute to corporate environmental and social performance? The mediating role of corporate social responsibility strategy," Business Strategy and the Environment, Wiley Blackwell, vol. 29(1), pages 140-153, January.
    2. Heather R. Dixon-Fowler & Alan E. Ellstrand & Jonathan L. Johnson, 2017. "The Role of Board Environmental Committees in Corporate Environmental Performance," Journal of Business Ethics, Springer, vol. 140(3), pages 423-438, February.
    3. García-Meca, Emma & García-Sánchez, Isabel-María & Martínez-Ferrero, Jennifer, 2015. "Board diversity and its effects on bank performance: An international analysis," Journal of Banking & Finance, Elsevier, vol. 53(C), pages 202-214.
    4. Field, Laura Casares & Souther, Matthew E. & Yore, Adam S., 2020. "At the table but can not break through the glass ceiling:Board leadership positions elude diverse directors," Journal of Financial Economics, Elsevier, vol. 137(3), pages 787-814.
    5. Rania B'eji & Ouidad Yousfi & Abdelwahed Omri, 2021. "Corporate Social Responsibility and Corporate Governance: A cognitive approach," Papers 2102.09218, arXiv.org.
    6. Rania Béji & Ouidad Yousfi & Abdelwahed Omri, 2020. "Corporate Social Responsibility and Corporate Governance: A cognitive approach," Post-Print hal-03144756, HAL.
    7. Ashesha Weerasinghe & Larelle (Ellie) Chapple & Alexandra Williamson, 2024. "Cultural diversity and Indigenous participation on Australian corporate boards: Harder but better decisions," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 64(1), pages 221-246, March.

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