Boardroom diversity (task- and relation-oriented diversity) and financial stability: evidence from Chinese financial listed firms

IF 2.1 Q2 BUSINESS, FINANCE

Pacific Accounting Review Pub Date : 2023-10-24 DOI:10.1108/par-02-2022-0023

Ding Ning, Kalimullah Bhat, Ghulam Nabi, Ren Yinong

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引用次数: 0

Abstract

Purpose This study aims to examine the impact of boardroom diversity on the financial stability of Chinese financial listed firms. Boardroom diversity is quantified in the following aspects: relation-oriented diversity and task-oriented diversity. Design/methodology/approach Panel data on Chinese financial listed firms between 1998 and 2017 are used in this study. Panel regression is used to analyze the firm data for fixed effects and robust standard errors. Findings Task-oriented diversity of the board increases financial stability. Regarding the impact of boardroom diversity on firm risk, the results reveal that task-oriented diversity of the board reduces firm risk, which supports the predictions of this research. Regarding the moderating effect of state ownership on the relationship between boardroom diversity (task- and relation-oriented diversity) and financial stability, the results show that state ownership enhances the positive impact of the board’s task-oriented diversity on financial stability. Practical implications Task-oriented diversity of the board enhances the financial stability of Chinese financial listed firms. As existing studies on bank boards in China are limited, the findings of this research can be used when crafting policy initiatives to enhance financial stability. Originality/value To the best of the authors’ knowledge, this study is the first to examine the effect of boardroom diversity, particularly task- and relation-oriented diversity, on financial stability. It provides empirical support that boardroom diversity positively affects the financial stability of Chinese financial listed firms. This research also offers empirical evidence that state ownership enhances the positive impact of the board’s task-oriented diversity on financial stability.

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董事会多元化(任务导向和关系导向)与财务稳定性:来自中国金融类上市公司的证据

本研究旨在探讨董事会多样性对中国金融类上市公司财务稳定性的影响。董事会多元化可以量化为以下几个方面:关系导向的多元化和任务导向的多元化。设计/方法/方法本研究采用1998年至2017年中国金融上市公司的面板数据。面板回归用于分析企业数据的固定效应和稳健标准误差。董事会以任务为导向的多样性增加了财务稳定性。关于董事会多元化对企业风险的影响，研究结果表明，任务导向的董事会多元化降低了企业风险，这支持了本研究的预测。关于国有制对董事会多样性(任务导向多样性和关系导向多样性)与财务稳定关系的调节作用，结果表明，国有制增强了董事会任务导向多样性对财务稳定的正向影响。董事会任务导向的多元化增强了我国金融上市公司的财务稳定性。由于对中国银行董事会的现有研究有限，本研究的结果可用于制定加强金融稳定的政策举措。就作者所知，这项研究首次考察了董事会多样性，特别是以任务和关系为导向的多样性对财务稳定性的影响。本文为董事会多元化对中国金融上市公司财务稳定性的正向影响提供了实证支持。本研究还提供了实证证据，证明国有制增强了董事会任务导向多样性对金融稳定的正向影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Pacific Accounting Review BUSINESS, FINANCE-

CiteScore

3.80

自引率

9.50%

发文量

期刊介绍： Pacific Accounting Review is a quarterly journal publishing original research papers and book reviews. The journal is supported by all New Zealand Universities and has the backing of academics from many universities in the Pacific region. The journal publishes papers from both empirical and theoretical forms of research into current developments in accounting and finance and provides insight into how present practice is shaped and formed. Specific areas include but are not limited to: - Emerging Markets and Economies - Political/Social contexts - Financial Reporting - Auditing and Governance - Management Accounting.