University of Twente Student Theses


Board Diversity and Firm’s Financial Performance: Evidence from South-East Asia

Protasovs, I. (2015) Board Diversity and Firm’s Financial Performance: Evidence from South-East Asia.

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Abstract:This study examines the relationship between demographic and cognitive diversity factors within the board of directors and firm financial performance. The studied sample is based on the Top 100 companies within the South-East Asian region published by the Nikkei Asian Review magazine. The relationship is examined using financial performance data (return on assets and equity) for the five-year interval from 2009 to 2013 and board diversity for the one-year interval between 2012 and 2013, which is defined in respect to gender, the educational background of the director and the ethnic group of the director. In addition, the generated relationship is controlled by several industry and organizational variables and an additional diversity dimension, namely the age of the board representatives. The correlation and regression analyses fail to indicate a significant relationship between board diversity and firm financial performance. Finally, the paper discusses both implications for future research and practical contribution.
Item Type:Essay (Bachelor)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:International Business Administration BSc (50952)
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