MANAGEMENT DIVERSITY AND FIRM PERFORMANCE

Author: 
Peer reviewed: 
No, item is not peer reviewed.
Scholarly level: 
Graduate student (Masters)
Date created: 
2019-12
Keywords: 
Diversity
Top management
Firm performance
Calendar portfolio
Abstract: 

We introduce a diversity measure of the top management team based on three attributes: compensation, gender and age. On average, firms with greater diversity of the top management team have a positive relation with abnormal returns based on the Fama- French 3-Factor model. However, our calendar-time valued-weighted portfolio approach shows that the relation between the diversity measure and abnormal return is negative. Overall, we conclude that the relation between diversity of the top management team and firm performance is not robust.

Description: 

MSc in Finance Project-Simon Fraser University

Language: 
English
Document type: 
Graduating extended essay / Research project
Rights: 
Copyright remains with the author
File(s): 
Senior supervisor: 
Amir Rubin
Department: 
Beedie School of Business-Segal Graduate School
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