Board diversity and firm performance: an empirical investigation in the Brazilian market
This article investigates the diversity of the boards of directors of Brazilian companies listed on the BM&FBovespa with respect to gender, age, educational attainment and independence, to ascertain whether there is a relationship between any of these diversity measures and firm performance. The...
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
FUCAPE Business School
2012-01-01
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| Series: | BBR: Brazilian Business Review |
| Subjects: | |
| Online Access: | http://www.redalyc.org/articulo.oa?id=123040843003 |
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| _version_ | 1825207348847706112 |
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| author | João Batista Fraga Vinícius Augusto Brunassi Silva |
| author_facet | João Batista Fraga Vinícius Augusto Brunassi Silva |
| author_sort | João Batista Fraga |
| collection | DOAJ |
| description | This article investigates the diversity of the boards of directors of Brazilian companies listed on the BM&FBovespa with respect to gender, age, educational attainment and independence, to ascertain whether there is a relationship between any of these diversity measures and firm performance. The study covers all companies without majority control, a type of corporate structure that first appeared in Brazil in 2005. The results indicate that greater diversity in the educational disciplines and the presence or absence of independent board members negatively affect performance, while diversity in years of schooling has a positive effect. The presence of women board members is small, but firms that have at least one female director outperform those that do not. |
| format | Article |
| id | doaj-art-82f94c3b02ad45f4a3690ae0bb9ed4c6 |
| institution | Kabale University |
| issn | 1807-734X |
| language | English |
| publishDate | 2012-01-01 |
| publisher | FUCAPE Business School |
| record_format | Article |
| series | BBR: Brazilian Business Review |
| spelling | doaj-art-82f94c3b02ad45f4a3690ae0bb9ed4c62025-02-06T23:39:29ZengFUCAPE Business SchoolBBR: Brazilian Business Review1807-734X2012-01-0115577Board diversity and firm performance: an empirical investigation in the Brazilian marketJoão Batista FragaVinícius Augusto Brunassi SilvaThis article investigates the diversity of the boards of directors of Brazilian companies listed on the BM&FBovespa with respect to gender, age, educational attainment and independence, to ascertain whether there is a relationship between any of these diversity measures and firm performance. The study covers all companies without majority control, a type of corporate structure that first appeared in Brazil in 2005. The results indicate that greater diversity in the educational disciplines and the presence or absence of independent board members negatively affect performance, while diversity in years of schooling has a positive effect. The presence of women board members is small, but firms that have at least one female director outperform those that do not.http://www.redalyc.org/articulo.oa?id=123040843003corporate governanceboard of directorsdiversitymajority control |
| spellingShingle | João Batista Fraga Vinícius Augusto Brunassi Silva Board diversity and firm performance: an empirical investigation in the Brazilian market BBR: Brazilian Business Review corporate governance board of directors diversity majority control |
| title | Board diversity and firm performance: an empirical investigation in the Brazilian market |
| title_full | Board diversity and firm performance: an empirical investigation in the Brazilian market |
| title_fullStr | Board diversity and firm performance: an empirical investigation in the Brazilian market |
| title_full_unstemmed | Board diversity and firm performance: an empirical investigation in the Brazilian market |
| title_short | Board diversity and firm performance: an empirical investigation in the Brazilian market |
| title_sort | board diversity and firm performance an empirical investigation in the brazilian market |
| topic | corporate governance board of directors diversity majority control |
| url | http://www.redalyc.org/articulo.oa?id=123040843003 |
| work_keys_str_mv | AT joaobatistafraga boarddiversityandfirmperformanceanempiricalinvestigationinthebrazilianmarket AT viniciusaugustobrunassisilva boarddiversityandfirmperformanceanempiricalinvestigationinthebrazilianmarket |