Resource type
Date created
2019-12
Authors/Contributors
Author: Ai, Li
Author: Dong, Xinwen
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.
Document
Description
MSc in Finance Project-Simon Fraser University
Copyright statement
Copyright is held by the author(s).
Scholarly level
Peer reviewed?
No
Language
English
Member of collection
| Download file | Size |
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