Does Board Diversity Matter in Credit Risk?

被引：4
|
作者：
Arango, Daniel Giraldo [1 ]
Gaitan, Sandra [1 ]
机构：
[1] Univ EAFIT, Escuela Econ & Finanzas, Medellin 050022, Antioquia, Colombia
来源：
GLOBAL BUSINESS REVIEW | 2021年
关键词：
Board of directors; credit risk; diversity; CORPORATE GOVERNANCE; FIRM PERFORMANCE; DIRECTORS; AGENCY; OWNERSHIP; LEVERAGE; RATINGS;
D O I：
10.1177/09721509211026822
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The board of directors' diversity plays a crucial role in the firm's decision-making process, which includes risk management. This study proposes a multidimensional index to measure board diversity. We use the Standard and Poor's (S&P) 1500 between 1996 and 2013 to analyse the relationship between board diversity and credit risk. We find an inverse and significative relation between board diversity and credit risk, which means that diversity matters in credit risk, and more diversity leads to less credit risk.
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页数：24
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