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A Peer-reviewed scientific articles/A1 Journal article (refereed), original research
      
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The effect of board directors from countries with different genetic diversity levels on corporate performance, Management Science 1, January (2017). Delis, Manthos D. ; Gaganis, Chrysovalantis ; Hasan, Iftekhar ; Pasiouras, Fotios


Category A Peer-reviewed scientific articles
Sub-category A1 Journal article (refereed), original research
auki Internal authors
All authors as text Delis, Manthos D. ; Gaganis, Chrysovalantis ; Hasan, Iftekhar ; Pasiouras, Fotios 
Number of authors
Status Published
Year of publication 2017 
Date 15.01.2017 
Name of article The effect of board directors from countries with different genetic diversity levels on corporate performance 
Name of journal Management Science
Volume of issue 63 
Number of issue 1, January 
Pages 231-249 
Abstract We link genetic diversity in the country of origin of the firms’ board members with corporate performance via board members’ nationality. We hypothesize that our approach captures deep-rooted differences in cultural, institutional, social, psychological, physiological, and other traits that cannot be captured by other recently measured indices of diversity. Using a panel of firms listed in the North American and UK stock markets, we find that adding board directors from countries with different levels of genetic diversity (either higher or lower) increases firm performance. This effect prevails when we control for a number of cultural, institutional, firm-level, and board member characteristics, as well as for the nationality of the board of directors. To identify the relationship, we use—as instrumental variables for our diversity indices—the migratory distance from East Africa and the level of ultraviolet exposure in the directors’ country of nationality.
Free text descriptor in Finnish geneettinen monimuotoisuus; yrityksen suorituskyky; johtajien kansalaisuus; johtajat; kansallisuudet; yritykset; johtokunnat 
Free text descriptor in English genetic diversity; corporate performance; nationality of board members 
ISSN / e-ISSN 0025-1909 
auki Internet addresses
Additional information Published Online: January 8, 2016
Notes BoF DP 14/2015 


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