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Surface- and deep-level diversity of directors and financial performance of French listed firms
[Diversidad superficial y profunda de los directores y el desempeño financiero de las empresas que cotizan en Francia]

Author

Listed:
  • Jérôme Maati

    (IAE Lille - IAE Lille University School of Management - Lille - Université de Lille)

  • Christine Maati-Sauvez

    (IDP - Institut du Développement et de la Prospective - EA 1384 - UVHC - Université de Valenciennes et du Hainaut-Cambrésis - IAE - Institut d'Administration des Entreprises - UPHF - Université Polytechnique Hauts-de-France)

Abstract

This study examines the influence of surface- and deep-level diversity among French firms' directors on financial performance, with regard to CEO power and operational complexity. Increased uses of age or gender diversity don't improve cognitive governance, regardless of complexity levels. In contrast, educational, professional, and board experience diversity all extend the cognitive bases of complex firms, for the shareholders' benefit. They detract from the performance of less complex firms though. Regarding disciplinary governance, age diversity doesn't improve CEO monitoring. All other components have positive impacts on performance when the CEO is powerful. They weaken it when the CEO is powerless. The results of this study suggest that the performance implications of board diversity may be contingent upon managerial context of the firm.

Suggested Citation

  • Jérôme Maati & Christine Maati-Sauvez, 2019. "Surface- and deep-level diversity of directors and financial performance of French listed firms [Diversidad superficial y profunda de los directores y el desempeño financiero de las empresas que co," Post-Print hal-03698565, HAL.
    • Handle: RePEc:hal:journl:hal-03698565
    DOI: 10.3917/resg.133.0081
    as

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    Cited by:

    1. Wenjing Li & Xuhui Wang & Md Jamirul Haque & Muhammad Noman Shafique & Muhammad Zahid Nawaz, 2020. "Impact of Workforce Diversity Management on Employees’ Outcomes: Testing the Mediating Role of a person’s Job Match," SAGE Open, , vol. 10(1), pages 21582440209, January.

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