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Regulation interventions impact on board diversity

Anh Do

SSRN Electronic Journal

Swansea University Author: Anh Do

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DOI (Published version): 10.2139/ssrn.4766451

Abstract

This study examines the influence of regulatory interventions and board diversity on stock performance volatility, firm return, and innovation outputs. To achieve that, we construct an index to gauge the demographic diversity of board composition. We uncover strong evidence that external interventio...

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Published in: SSRN Electronic Journal
ISSN: 1556-5068
Published: Elsevier BV
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URI: https://cronfa.swan.ac.uk/Record/cronfa67504
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first_indexed 2024-09-30T16:51:48Z
last_indexed 2024-09-30T16:51:48Z
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spelling v2 67504 2024-08-30 Regulation interventions impact on board diversity a1cf2469f07a784a37b1739eed708f6c Anh Do Anh Do true false 2024-08-30 CBAE This study examines the influence of regulatory interventions and board diversity on stock performance volatility, firm return, and innovation outputs. To achieve that, we construct an index to gauge the demographic diversity of board composition. We uncover strong evidence that external interventions have dynamically impacted those relationships. Using the difference-in- difference approach, we document strong evidence that the departure of non-traditional directors from the board in the post-SOX era results in a smaller number of patents registered, higher firm returns, and lower stock volatility. This effect is concentrated in firms that are larger in size on average, have more (independent) directors sitting on the board, and invest more in capital expenditure. Journal Article SSRN Electronic Journal Elsevier BV 1556-5068 0 0 0 0001-01-01 10.2139/ssrn.4766451 Preprint article before certification by peer review. COLLEGE NANME Management School COLLEGE CODE CBAE Swansea University 2024-09-30T17:51:50.7689622 2024-08-30T14:36:42.5536975 Faculty of Humanities and Social Sciences School of Management - Accounting and Finance Anh Do 1
title Regulation interventions impact on board diversity
spellingShingle Regulation interventions impact on board diversity
Anh Do
title_short Regulation interventions impact on board diversity
title_full Regulation interventions impact on board diversity
title_fullStr Regulation interventions impact on board diversity
title_full_unstemmed Regulation interventions impact on board diversity
title_sort Regulation interventions impact on board diversity
author_id_str_mv a1cf2469f07a784a37b1739eed708f6c
author_id_fullname_str_mv a1cf2469f07a784a37b1739eed708f6c_***_Anh Do
author Anh Do
author2 Anh Do
format Journal article
container_title SSRN Electronic Journal
institution Swansea University
issn 1556-5068
doi_str_mv 10.2139/ssrn.4766451
publisher Elsevier BV
college_str Faculty of Humanities and Social Sciences
hierarchytype
hierarchy_top_id facultyofhumanitiesandsocialsciences
hierarchy_top_title Faculty of Humanities and Social Sciences
hierarchy_parent_id facultyofhumanitiesandsocialsciences
hierarchy_parent_title Faculty of Humanities and Social Sciences
department_str School of Management - Accounting and Finance{{{_:::_}}}Faculty of Humanities and Social Sciences{{{_:::_}}}School of Management - Accounting and Finance
document_store_str 0
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description This study examines the influence of regulatory interventions and board diversity on stock performance volatility, firm return, and innovation outputs. To achieve that, we construct an index to gauge the demographic diversity of board composition. We uncover strong evidence that external interventions have dynamically impacted those relationships. Using the difference-in- difference approach, we document strong evidence that the departure of non-traditional directors from the board in the post-SOX era results in a smaller number of patents registered, higher firm returns, and lower stock volatility. This effect is concentrated in firms that are larger in size on average, have more (independent) directors sitting on the board, and invest more in capital expenditure.
published_date 0001-01-01T17:51:48Z
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score 11.037056

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