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  • About
  • The Global ETD Search service is a free service for researchers to find electronic theses and dissertations. This service is provided by the Networked Digital Library of Theses and Dissertations.
    Our metadata is collected from universities around the world. If you manage a university/consortium/country archive and want to be added, details can be found on the NDLTD website.
1

The Impact of Board Diversity on Textual Social, Environmental Disclosures, and Corporate Performance

Omara, Hossam K.A.A. January 2021 (has links)
Drawing on the notion of faultlines – a hypothetical dividing line that splits a group into two or more subgroups based on the alignment of one or more individual attributes – this thesis proposes a new approach to the measurement and assessment of board diversity to understand how high(er) performing boards can be built i.e., the multi-dimensional diversity index (MDI). The proposed MDI captures the joint effect of differences in director attributes at four diversity levels for 26,743 directors, namely: (i) surface (or baseline); (ii) identity; (iii) demographic; and (iv) meso-level. The current study uses three-stage least squares (3SLS) with a panel of 3,357 FTSE All-Share index non-financial companies from 2005 to 2018. To this end, a key implication of this study – and by extension, the proposed MDI – is that it challenges the conventional notion that boards are improved ‘enough’ by focusing on the micro-dimension and increasing stand-alone diversity attributes, such as gender. Collectively, this study’s results suggest that a well-diversified board incentivises managers to disclose more information on social and environmental activities in contrast to firms with an extreme faultline score. The results show that highly effective boards with a moderate faultline score at meso-level diversity (e.g., identity, information, and non-demographic attributes) lead to better accounting profitability, corporate value, and market-based performance. Remarkably, the present study finds that nationality diversity per se positively impacts corporate performance; in contrast, the dominance of male directors hinders firm performance significantly.

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