Do investors value board ethnic diversity? A Canadian study

Corporate Board: Role, Duties & Composition

article

Caroline Talbot¹  Michel Coulmont¹  Sylvie Berthelot¹ 

[1] Business School, University of Sherbrooke

关键词: Corporate Governance;    Ethnic Diversity;    Board of Directors;    Value Relevance;    Firm Market Value;   

DOI  :  10.22495/cbv19i1art2

学科分类：社会科学、人文和艺术（综合）

来源: Virtus Interpress

【 摘 要 】

The purpose of this study is to examine whether investors take the ethnic diversity of boards of directors into account. Based on a sample of 563 Canadian firms listed on the Toronto Stock Exchange (TSX) for fiscal years 2019 to 2021 inclusively, our results suggest that investors positively perceive the nomination of a greater number of visible minority board members. However, the study findings also show that the impact of ethnicity on investors’ perception is nearly 50 percent less than the impact of gender diversity. The study conducted in the Canadian context corroborates the results observed in some previous work by confirming the positive impact that gender and ethnic diversity can have on business performance.

【 授权许可】

CC BY-NC