Diversity of the Board of Directors and Financial Performance of the Firms

The diversity of the board of directors continues to be a matter of concern for investors, regulators, and the general public. In this sense, the purpose of the research presented was to identify whether there is a positive and significant impact between the diverse variables of the board of directo...

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Autores principales:	Felipe Arenas-Torres, Miguel Bustamante-Ubilla, Roberto Campos-Troncoso
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	diversity gender diversity board of directors financial performance Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
Acceso en línea:	https://doaj.org/article/357cc755536e4f3a8c9ad02bbc5919b3
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id	oai:doaj.org-article:357cc755536e4f3a8c9ad02bbc5919b3
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spelling	oai:doaj.org-article:357cc755536e4f3a8c9ad02bbc5919b32021-11-11T19:25:20ZDiversity of the Board of Directors and Financial Performance of the Firms10.3390/su1321116872071-1050https://doaj.org/article/357cc755536e4f3a8c9ad02bbc5919b32021-10-01T00:00:00Zhttps://www.mdpi.com/2071-1050/13/21/11687https://doaj.org/toc/2071-1050The diversity of the board of directors continues to be a matter of concern for investors, regulators, and the general public. In this sense, the purpose of the research presented was to identify whether there is a positive and significant impact between the diverse variables of the board of directors and the financial performance of the firms. In this context, the study’s objective was to determine if the diversity in the composition of the boards of directors has a positive and significant impact on the financial performance of the companies listed in the Chilean stock market. The study considered a sample of 1106 reports on social responsibility and sustainable development between the 2015–2020 period and their respective returns. The research was descriptive-correlational, which determined the incidence of gender, nationality, and age diversity in the financial performance of the firms. The results show, in general, a low degree of gender and nationality diversity in Chilean boards. However, a positive and significant impact is observed in the commercial sector, nationality diversity, and the construction and gender diversity axis. In this regard, the study allows confirming the heterogeneity of results by linking the variables of diversity and financial performance and the importance of conducting sufficiently disaggregated studies to understand the relationship between both types of variables. Finally, this study updates the diversity levels of the board of directors for the Chilean stock market and establishes challenges for the regulator in terms of gender quotas and good corporate governance practices.Felipe Arenas-TorresMiguel Bustamante-UbillaRoberto Campos-TroncosoMDPI AGarticlediversitygender diversityboard of directorsfinancial performanceEnvironmental effects of industries and plantsTD194-195Renewable energy sourcesTJ807-830Environmental sciencesGE1-350ENSustainability, Vol 13, Iss 11687, p 11687 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	diversity gender diversity board of directors financial performance Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
spellingShingle	diversity gender diversity board of directors financial performance Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350 Felipe Arenas-Torres Miguel Bustamante-Ubilla Roberto Campos-Troncoso Diversity of the Board of Directors and Financial Performance of the Firms
description	The diversity of the board of directors continues to be a matter of concern for investors, regulators, and the general public. In this sense, the purpose of the research presented was to identify whether there is a positive and significant impact between the diverse variables of the board of directors and the financial performance of the firms. In this context, the study’s objective was to determine if the diversity in the composition of the boards of directors has a positive and significant impact on the financial performance of the companies listed in the Chilean stock market. The study considered a sample of 1106 reports on social responsibility and sustainable development between the 2015–2020 period and their respective returns. The research was descriptive-correlational, which determined the incidence of gender, nationality, and age diversity in the financial performance of the firms. The results show, in general, a low degree of gender and nationality diversity in Chilean boards. However, a positive and significant impact is observed in the commercial sector, nationality diversity, and the construction and gender diversity axis. In this regard, the study allows confirming the heterogeneity of results by linking the variables of diversity and financial performance and the importance of conducting sufficiently disaggregated studies to understand the relationship between both types of variables. Finally, this study updates the diversity levels of the board of directors for the Chilean stock market and establishes challenges for the regulator in terms of gender quotas and good corporate governance practices.
format	article
author	Felipe Arenas-Torres Miguel Bustamante-Ubilla Roberto Campos-Troncoso
author_facet	Felipe Arenas-Torres Miguel Bustamante-Ubilla Roberto Campos-Troncoso
author_sort	Felipe Arenas-Torres
title	Diversity of the Board of Directors and Financial Performance of the Firms
title_short	Diversity of the Board of Directors and Financial Performance of the Firms
title_full	Diversity of the Board of Directors and Financial Performance of the Firms
title_fullStr	Diversity of the Board of Directors and Financial Performance of the Firms
title_full_unstemmed	Diversity of the Board of Directors and Financial Performance of the Firms
title_sort	diversity of the board of directors and financial performance of the firms
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/357cc755536e4f3a8c9ad02bbc5919b3
work_keys_str_mv	AT felipearenastorres diversityoftheboardofdirectorsandfinancialperformanceofthefirms AT miguelbustamanteubilla diversityoftheboardofdirectorsandfinancialperformanceofthefirms AT robertocampostroncoso diversityoftheboardofdirectorsandfinancialperformanceofthefirms
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Diversity of the Board of Directors and Financial Performance of the Firms

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