The importance of diversity on boards of directors’ effectiveness and its impact on innovativeness in the bioeconomy

Marko Hakovirta (), Navodya Denuwara, Sivashankari Bharathi, Peter Topping and Jorma Eloranta
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Marko Hakovirta: North Carolina State University
Navodya Denuwara: North Carolina State University
Sivashankari Bharathi: North Carolina State University
Peter Topping: Emory University
Jorma Eloranta: Stora Enso Oyj

Palgrave Communications, 2020, vol. 7, issue 1, 1-9

Abstract: Abstract A company’s board of directors plays a critical role in making decisions relating to strategy, high-level structure, and the appointment of the CEO. The role of the board and its impact on corporate performance has been well studied; however, the diversity of the board of directors and the corresponding correlation to the level of corporate innovativeness has not been previously investigated. Here, we provide a critical analysis of board members’ diversity as it relates to innovative corporations in what is considered a mature industry in transition to a bioeconomy: the pulp and paper industry. Our findings contribute to the body of knowledge on the role of board member diversity in shaping company culture and how that drives, shapes, and sustains innovation.

Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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DOI: 10.1057/s41599-020-00605-9

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