Does board diversity matter in the disclosure process? An analysis of the association between diversity and the disclosure of information on risks
Francisco Bravo ()
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Francisco Bravo: University of Seville
International Journal of Disclosure and Governance, 2018, vol. 15, issue 2, 104-114
Abstract There is a significant debate on the real contribution of board diversity in corporate strategies. The objective of this study is to analyse the influence of board diversity on the disclosure process within a firm by focusing on risk reporting. The disclosure of this kind of information has become crucial in recent years in capital markets. Results show that gender and ethnic diversity in the boards positively influence the disclosure of information on risks. These findings contribute towards the debate about why diversity matters. Our study has important implications for the director-selection process since our results highlight the importance of considering the diverse background of board members. Regulators can also benefit from this evidence in order to issue recommendations and/or rules on the composition of boards of directors, as mechanisms to improve the disclosure practices of companies.
Keywords: Gender diversity; Ethnic diversity; Age diversity; Board of directors; Risk disclosures (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:pal:ijodag:v:15:y:2018:i:2:d:10.1057_s41310-018-0040-4
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