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The trends and determinants of board gender and age diversities

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  • Oliveira, Mauro
  • Zhang, Shage

Abstract

We investigate trends and determinants of board gender and age diversities using a sample of 8,590 firms for 20 years. Gender diversity and the average age of boards increased, while age diversity decreased in this period. We find that larger, older firms tend to have more gender diversity but less age diversity. More board independence is related to higher gender diversity, while more firm complexity is associated with less age diversity. For younger (older) boards, more female directors are associated with less (more) age diversity. We also find that female directors in older boards generate value for the firm.

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  • Oliveira, Mauro & Zhang, Shage, 2022. "The trends and determinants of board gender and age diversities," Finance Research Letters, Elsevier, vol. 46(PA).
    • Handle: RePEc:eee:finlet:v:46:y:2022:i:pa:s1544612322001106
    DOI: 10.1016/j.frl.2022.102798
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    References listed on IDEAS

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    Cited by:

    1. Bao, Yangming & Li, Jie, 2024. "Cross-border M&A, gender-equal culture, and board gender diversity," Journal of Corporate Finance, Elsevier, vol. 84(C).
    2. Stefano Piserà, 2024. "Gendered language and board diversity: Evidence from European banks," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(3), pages 3083-3102, July.
    3. Florian Maier & B. Burcin Yurtoglu, 2022. "Board Characteristics and the Insolvency Risk of Non-Financial Firms," JRFM, MDPI, vol. 15(7), pages 1-19, July.

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    More about this item

    Keywords

    Board diversity; Age diversity of board; Gender diversity of board; Board of directors;
    All these keywords.

    JEL classification:

    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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