The trends and determinants of board gender and age diversities

Mauro Oliveira and Shage Zhang

Finance Research Letters, 2022, vol. 46, issue PA

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.

Keywords: Board diversity; Age diversity of board; Gender diversity of board; Board of directors (search for similar items in EconPapers)
JEL-codes: G34 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:46:y:2022:i:pa:s1544612322001106

DOI: 10.1016/j.frl.2022.102798

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