Effect of Board Diversity on Financial Performance of the Vietnamese Listed Firms

Asian Economic and Financial Review

article

My Tran Ngo¹  Thi Hong Van Pham²  Thi Thai Tam Luu³ 

[1] Deputy Head of Business Administration Department College of Economics, Can Tho University;Master Student in College of Economics, Can Tho University;PhD Student in College of Economics, Can Tho University Lecturer in School of Economics and Business Administration, An Giang University

关键词: Board of director;    Board diversity;    Firm performance;    Gender diversity;    GMM;    Nationality diversity.;   

DOI  :  10.18488/journal.aefr.2019.97.743.751

学科分类：社会科学、人文和艺术（综合）

来源: Asian Economic and Social Society

【 摘 要 】

This study investigated the impact of board diversity on the financial performance of listed firms on the Vietnamese stock exchange. Four demographic characteristics of board members (gender, nationality, level of education and level of age) were used as the proxies for diversity. The data were analyzed by different methods including Pooled OLS regression, Fixed Effect Model (FEM), Random Effect Model (REM) and Generalized Method of Moments (GMM) using a sample of 482 companies listed in the period from 2015 to 2017. The results showed that the percentages of female members, foreign members and members with post-graduate degrees on the board, were statistically associated with improvement in financial performance. However, there was no evidence that the percentage of members under 45 years old on the board affected the performance of listed firms on the Vietnamese stock exchange.

【 授权许可】

CC BY