Diversity on banks’ boards

Miroslav Nedelchev

Economic Thought journal, 2017, issue 2, 71-91

Abstract: The paper examines the diversity on banks’ boards as an innovative tool to reduce the effects of the global crisis and a beginning of a long-term sustainable development worldwide. The expectations with regard to diversified boards are mainly associated with improving the quality of decisions, risk management methods and remuneration of executive directors. The EU recommendations for achieving of diversity on boards, incorporated in national policies and corporate practices, were analyzed for Bulgarian banks. The survey results show that there is diversity on banks’ boards by profession and nationality, while by gender the diversity is primarily due to the introduced regulations. The average values of the Bulgarian banks exceed those in the EU due to the specifics of our banking system. In parallel to the diversity of boards is raising the issue of economic and social effects of this diversification.

JEL-codes: G21 G34 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:bas:econth:y:2017:i:2:p:71-91

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